6/18/2018

*CHINESE -RIDE SHARING DIDI'S- AUSTRALIA*


DIDI CHUXING Technology Co Ltd, the Chinese ride-sharing company which bought the mainland operations of Uber Technologies Inc, said it will begin offering its service this month in Australia, its first foray in a Western country.

The scheduled June 25 launch in Australia's second biggest city Melbourne sets DiDi up for a showdown with the US rival it bought out in China in exchange for a stake.

DiDi started expanding outside Asia in Mexico earlier this year, and has said globalisation is a core strategy.

Didi's announcement on Friday about the launch shows business deals between China and Australia are being struck as normal even in relations between the two governments have hit  a speedbumb after the Federal government proposed anti-foreign interference laws directed at Beijing.

Australian exporters have blamed anti-Beijing rhetoric for delays clearing product through Chinese Customs.

But just a day earlier, Australia's Sirtex Medical picked a $1.4 billion Chinese takeover offer that trumped US company Varian Medical Systems.

''Australia has diversified mobility needs, a business friendly environment and an inclusive culture,'' DiDi, which is backed by  bluechip investors including  SoftBank Group Corp and Apple Inc, said in a statement.

 ''DiDi wishes to contribute to the growth of Australia as a long-term investor and business partner by offering affordable, reliable and convenient mobility options and income-generating opportunities,'' it added.

Melbourne, a city of 4.5 million with cheaper real estate than larger  Sydney, is a popular Australian entry point for companies in the so called  ''sharing economy''.

Uber has routinely launched  new offerings in the city, while several Chinese and Singapore -owned  dockless bicycle rental  companies have picked Melbourne to start in Australia. [AGENCIES]

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