Uber and Didi have upended China’s taxi industry by allowing drivers to take passengers in private vehicles with the help of hugely popular apps. In a new law announced by several regulators, China’s government gave the thumbs-up for ride-hailing companies like Uber and its Chinese rival, Didi Chuxing, to operate in the country. The law clears up regulatory uncertainty and lays out a new framework under which ride-hailing companies can operate in the country. Didi’s statement praised elements of the rules, like the fact that ride-hailing companies will be allowed to set their own prices. According to the rules, drivers must have three years’ experience, be licensed by a local taxi regulator and have no criminal record.

Source: International New York Times July 28, 2016 10:11 UTC