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Sharing economy

Sharing economy
The latest news, analysis and opinion on Sharing economy. In-depth analysis, industry insights and expert opinion.
About 4.5 million of Meituan’s more than 7 million delivery workers are covered with insurance for occupational injury. Photo: Shutterstock
Meituan

Meituan’s delivery workers earn US$11 billion in 2023, CEO says

CEO Wang Xing’s internal announcement reflects Meituan’s efforts to address mainland policymakers’ concerns over the welfare of gig workers.

Pakistan

SheDrives: Pakistan’s transgender community get its first ride-sharing service

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Bike-sharing services

Uber-backed e-scooter start-up Lime enters Japan after Korea exit

Australia

Australian taxi drivers win US$178 million payout from Uber in legal settlement

More than 8,000 taxi drivers and hire-car owners banded together to launch a class action against the US ride-sharing giant, arguing they lost substantial income when Uber entered Australia in 2012.

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A pedestrian walks past a row of taxis in central Sydney on Monday. Uber entered Australia in 2012. Photo: AFP
Didi Chuxing

Ride-hailing giant Didi apologises for widespread service outage

The disruptions affected some of the app’s 400 million users, as well as drivers across China, including in Beijing, Shanghai and Guangzhou.

Didi Chuxing

China’s Didi returns to profit for the first time since ill-fated IPO

The company has also announced a plan to buy back up to US$1 billion of its shares amid reports of a planned Hong Kong listing.

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WeWork

WeWork, once most valuable US start-up, goes bankrupt

The company, which struggled to survive the Covid-19 pandemic and a derailed initial public offering, reported estimated assets and liabilities ranging from US$10 billion to US$50 billion.

A WeWork office in San Mateo, California. Photo: Getty Images via AFP
Hong Kong property

Hong Kong office landlords grapple with ‘irreversible’ hybrid work trend

Flex space provider IWG says it is adding locations rapidly in the Greater Bay Area as property owners seek to capitalise on the trend. Major landlords Hongkong Land and Swire Properties also have their fingers in the co-working pie.

Hong Kong property

Hong Kong has Asia’s priciest co-working space, as Singapore demand surges

With a monthly average of US$609 per desk, Hong Kong tops the 13 Asia-Pacific cities tracked in a study by The Instant Group, which says demand in Singapore is set to increase by 41 per cent.

Uber

Uber focuses on 2023 profits as pandemic pain eases

Uber Technologies said it would focus on delivering profits this year, after rounding off 2022 with blowout earnings as a surge in demand for airport and office rides helped the company rebound from pandemic lows.

An Uber rideshare sign is posted nearby, as taxis wait to pick up passengers at Los Angeles International Airport on February 8, 2023. Photo: Agence France-Presse
Didi Chuxing

Didi Chuxing’s main app returns to iOS, Android app stores in China

It marks a crucial step for the company to fully resume its business after Beijing banned it from registering new users for 18 months.

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The Didi Chuxing app has returned to iOS and Android app stores in China after an 18-month absence. Photo: Shutterstock
Didi Chuxing

Didi’s relaunch of user sign-ups may not mark end to regulatory scrutiny

The Beijing-based company has retained its leading position in the ride-hailing market during an 18-month absence from China’s app stores, but uncertainties linger as to how the government will enforce antitrust, algorithms and data rules.

Didi Chuxing

Chinese ride-hailing giant Didi Chuxing gets go-ahead for new user registrations

The Cyber Security Review Office gave Didi the green light to resume new user registrations several months after concluding its investigation of the company.

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Didi Chuxing

Exclusive | Chinese ride-hailing giant Didi Chuxing starts new round of job cuts: sources

Didi’s latest round of lay-offs will affect hundreds of jobs at nearly every department in the company, including its ride hailing, overseas business and risk management operations.

Didi Chuxing’s latest job cuts show that restructuring is still under way at China’s Big Tech companies. Photo: Shutterstock
TikTok

ByteDance jumps into ride-hailing in China with Douyin mini-apps

TikTok’s mainland Chinese version has started to include ride-hailing services in its mini-app platform, in a move could stir up fresh competition in a market bruised by an onslaught of regulatory crackdowns.

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A ride-hailing driver looking at maps direction from a smartphone in Beijing. Photo: Reuters
The View

The View | Does surge pricing really help ride-sharing drivers earn more?

In a study of drivers in Guangzhou and Shenzhen, surge pricing benefited cherry-picking part-time gig drivers who were motivated to work more – but discouraged full-timers and hurt their earnings.

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Hong Kong property

Hong Kong co-living operators hang on for end of quarantine rules

Rents for co-living units have declined by as much as a quarter over the last three years, with occupancy rates stuck at 60 per cent since last year, analysts say. Yet operators remain optimistic.

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China property

Airbnb exits China as tough Covid measures add to woes of ill-suited business model

The company said it will concentrate on serving the Chinese market by providing options for accommodation when Chinese people travel out of the country.

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Airbnb says from Tuesday guests will no longer be allowed to book homes and experiences beyond July 29 and 30 in China. Airbnb hosts are no longer allowed to accept bookings from July 25. Photo: Shutterstock
Trending in China

Plea for five stars for ride-hailing driver father goes viral in China

A note written by a young girl asking for positive reviews for her father, a ride-hailing driver, went viral in China after her medical backstory emerged.

Hong Kong property

Weave, unnamed property firm buy Rosedale, to turn hotel into co-living space

Shared living spaces operator Weave Living has, with an unnamed global real estate asset manager, acquired the 435-room Rosedale Hotel in Kowloon for HK$1.37 billion (US$175 million), it said on Tuesday.

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Hong Kong property

As Hong Kong eases Covid-19 curbs, co-working firms hunt for more acquisitions

More mergers and acquisitions were in store for the co-working sector in Hong Kong amid rising demand for flexible offices, analysts said.

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A theDesk co-working space in Hong Kong. Photo: Handout
Hong Kong property

A quiet spot at theDesk’s co-working booths for the price of a coffee

The size of a typical phone kiosk, these booths or studios come equipped with a desk, bar stool, power sockets and Wi-fi access. And, as part of a pilot programme, access is free as of now.

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The first set of booths have been launched in seven shopping centres across Hong Kong. Photo: Handout
Didi Chuxing

Exclusive | Didi’s operations slow as it shifts focus to regulators from commuters

Employees of Didi Chuxing have been forced to make demands from regulators their top priority as the ride-hailing giant seeks to get its app back into Chinese app stores.

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Didi Chuxing

Didi executives, directors granted US$3 billion in options ahead of IPO

The options may rankle as investors rue their losses in a stock that has fallen below its IPO price in the four trading days since going public.

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IPO

Didi to raise US$4 billion in New York, catching with Uber’s value

Didi Chuxing plans to sell 288 million shares at US$13 to US$14 each in its US IPO. The sale could value the entire firm at US$67 billion, compared with US$95 billion for Uber Technologies.

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An autonomous vehicle branded with Didi Chuxing’s sign at the World Artificial Intelligence Conference (WAIC) in Shanghai on Thursday, August 29, 2019. Photo: Bloomberg
Didi Chuxing

Analysis | Is China’s antitrust probe a detour or dead end for Didi’s New York IPO?

Didi is not the only Chinese technology behemoth to have come under the scrutiny of SAMR, as regulators catch up after more than a decade of laissez faire growth in every aspect of the country’s technology-related industry, from games to online entertainment, e-commerce to electronic payments.

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Illustration by Brian Wang/SCMP
E-commerce

Meituan first-quarter revenue rises on increased consumer spending

China’s largest on-demand services provider beat estimates, posting a 120.9 per cent surge in first-quarter revenue on the back of its food delivery, in-store, hotel and travel business segments.

Didi Chuxing

Beijing lectures China’s Uber-like platforms on driver abuse

The cyberspace watchdog and several other regulators summoned ride-hailing providers for a lecture, accusing them of taking unfair commissions from drivers.

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