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China ride-hailer Caocao Chuxing receives billions of yuan in funding

Round marks China ride-hailing industry's 1st domestic equity deal this year

China's ride-hailers are eager to take advantage of a situation in which a crackdown on the top player is keeping it from sustaining growth.   © AP

BEIJING -- Caocao Chuxing, the ride-hailing arm of automaker Geely, took in billions of yuan (a nine-figure dollar amount) in a recent funding deal, a source told 36Kr. The investment is China's first domestic equity deal in the ride-hailing industry this year.

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