Uber sticks to China expansion as regulatory curbs loom

Shanghai

UBER Technologies Inc, the world's most valuable startup at more than US$50 billion, said it will push ahead with plans to expand into new Chinese cities, downplaying the potential impact on its operations from proposed regulations on the ride-hailing industry.

The company's China unit is sticking with its plans to be in about 100 new cities in the next year, Liu Zhen, head of strategy, said in an interview in Shanghai last week. Uber China also expects to at least double the number of employees by the end of next year, from about 200 people, said Kate Wang, general manager for Shanghai operations.