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Too cheap to survive

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The *advent of ride-hailing apps like Didi Kuaidi and Uber has inspired a spate of new regulations. The latest twist comes from the Guangzhou transportation authority, which is warning the online services not to engage in “unfair competition”. The authorities define “unfair competition” as charging prices below their costs. Companies including Shenzhou and Yidao Yongche have complied by eliminating all fare discounts.
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