Uber won't dominate the Chinese market but it keeps a significant share in the biggest ride-hailing app in the world's largest market.
The two companies on Monday confirmed the sale of Uber China to its bigger rival, ending a two-year, money-losing effort to break into one of the world's toughest markets.
China last week issued guidelines that establish a long-awaited framework for the booming ride-hailing industry and remove uncertainty for firms such as Didi and Uber.
The Apple Store is the envy of many in the retail world, with the highest sales per square foot in the industry.
China's push to modernize its manufacturing with robotics is partly a response to labor shortages and fast-rising wages.
China wants car makers to stop testing until new regulations are in place.
The streaming site is trying to counter slowing growth in the U.S. with its move in January to launch in more than 130 new markets worldwide.
The U.S. fast food company had announced in March it was reorganizing its Asian operations by bringing in partners who would own the restaurants within a franchise business.
The deal will see the U.S. grocery giant swap its Yihaodian platform for a 5 percent stake in JD.com Inc., worth about $1.5 billion by the firm's latest market value.
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Plus: Taco Bell is giving away free Doritos Locos tacos today as promised during the NBA Finals.
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Plus: Shanghai Disneyland opened its doors today.
The funding round valued the company at more than $25 billion.
Echoing that growth, Chairman Jack Ma said Alibaba expects to have 2 billion consumers on its books by 2036, up from 423 million active buyers in 2016.
The latest fundraising comes with China's top ride-hailing company locked in a struggle to fend off its global rival's march into China.
China is a communist nation of close to 1.4 billion people where there has been explosive new growth and business opportunities alongside regimented government control over its media and the civil liberties of its citizens.
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© 2016 Entrepreneur Media, Inc.