The end of China’s ride-sharing gig – TechCrunch

From Techcrunch

Over the last few years, millions of Chinese workers managed to earn extra money by being ride-hailing drivers. Many picked the gig because of its flexible schedule. For those who could not otherwise afford to own a car in China’s pricy metropolises, driving around is also a status symbol, even if they are paying off car loans every month.

Most drivers on Didi Chuxing — the startup that captured 90 percent of China’s e-hailing trips in 2017 per consulting firm Bain & Company — were part-time. That’s according to a report Didi put out in October 2017, which said half of its drivers worked less than two hours a day.

The report also hailed Didi as the epitome of China’s “sharing economy,” something that Beijing has been keen to promote to spur economic growth. The all-encompassing term, which includes shared platforms from mobility to elderly care services, raked in $764 billion in 2017, shows a report by China’s Sharing Economy Research Center of the State…

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