Didi ride hailing service quietly increases prices

Didi Chuxing, China’s leading car hailing app, has been quietly increasing its prices in several cities since last month, in a sign that the country’s cash-burning ride app wars may be decelerating, the Financial Times reports. The company, which claims to have an 80% market share of the local ride hailing market, has been locked in a costly price war with US competitor Uber since last year, when the San Francisco based app began a concerted push into China. Generous subsidies, sometimes amounting to three times the price of the fare, meant that until recently both car hailing services were less expensive than a regular taxi.