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Uber China raises US$1.2b in ongoing fundraising round

[SHANGHAI] Uber Technologies Inc's China unit has raised US$1.2 billion as part of an ongoing fundraising round, the US ride-hailing service's CEO Travis Kalanick said on Monday, even as its Chinese rival Didi Kuaidi raises US$3 billion.

Uber's Mr Kalanick made the comments in an interview with Chinese news website, which were confirmed by an Uber China spokeswoman.