China issues regulations for online ride-hailing services

China has issued the final version of a policy to regulate booming online-ride hailing services, according to a document made public on Thursday, for a sector in which Uber Technologies Inc and Chinese rival Didi Chuxing compete aggressively.

The rules take effect on Nov. 1 and require, among other things, that drivers have a minimum of three years of experience behind the wheel to work with a ride-hailing service.

Uber and Didi have invested billions to lure riders with discounts despite previously operating in a legal gray area in most of China.

Source: Reuters