Didi becoming just another cab firm after Uber buyout

PASSENGERS of China's ride-hailing giant Didi Chuxing are finding they have to pay higher fares for their trips after the company's buyout of Uber China. Beijing News commented on Wednesday:

Public concerns about price increases are justified. Although hard to accept, in reality the company is becoming just another taxi company.

Travis Kalanick, CEO of Uber, says Didi Chuxing has good reasons for raising its prices. It has invested billions of dollars in the Chinese market and has not yet made a profit. The company has to find the price point at which it can make a profit.