Didi’s market value, currently estimated at USD 35 billion, may decline by two-thirds if the draft laws are implemented, an industry investor told Securities Daily.
Japan continues to receive a record number of Chinese travelers but the visitors’ average spend is declining as they appear to be buying more prudently in the country.
Russia displaced Hong Kong, Macao and Taiwan as a top destination for mainland Chinese travelers during the holiday, and welcomed 103.1% more visitors during the peak period.
Tongcheng Tourism and Wanda Group jointly announced on October 9 that the two companies plan to merge Wanda’s tourism unit with Tongcheng Tourism.
Bicycle-sharing company ofo raised USD 130 million in its C round, while its major competitor Mobike also closed a $100m round backed by Sequoia Capital and Hillhouse Capital.
Marriott plans to open about 100 mid-scale hotels in China within next five years. This is expected to give the hotel group a bigger presence in China than in the United States.
Caissa Touristic plans to lead E-Life Financial's capital increase by injecting RMB 550 million into the HNA finance unit and acquire tour operator Tiantian Shanglv for RMB 149 million.
Hilton Hotels recently introduced its concept of apartment-style hotel to China for the first time in a bid to expand into the country’s mid-scale market.
