China's largest ride share company Didi Chuxing has received a US$600 million investment from China Life Insurance Co. Ltd., following a US$1 billion injection from Apple Inc and a US$400 million infusion from Alibaba Group Holdings Ltd. and its Internet finance unit Ant Financial last month.
According to Tencent Technology citing a company announcement, China Life Insurance will make US$300 million equity investment and put in RMB2 billion (US$303 million) via a long-term debt structure.
The two parties also plan to cooperate in the area of Internet finance, insurance, the enterprise car market, as well as exploring potential expansion of ride sharing in the international market.
"Combining insurance services and the Internet ecosystem is an important step in China Life Insurance's development strategy," says Wang Junhui, president...
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