China's auto, internet giants set up 9.76 billion yuan fund to invest in ride-sharing industry

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China's auto, internet giants set up 9.76 billion yuan fund to invest in ride-sharing industry
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China's major automobile and internet companies, including Chongqing Changa...

FILE PHOTO: A man stands near the logo of Alibaba Group at the company's newly-launched office in Kuala Lumpur, Malaysia June 18, 2018. REUTERS/Lai Seng Sin/File Photo

Chongqing Changan Automobile has invested 1.6 billion yuan in the investment company in Nanjing with partners such as Alibaba’s investment firm, Tencent’s affiliate, Suning’s investment unit, FAW, and Dongfeng Motor.

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