China minister warns ride-booking firms against subsidies

Beijing

CHINA'S Transport Minister Yang Chuantang warned online taxi-hailing companies on Monday against subsidies leading to "unfair" competition, as US giant Uber and homegrown rival Didi spend billions in their battle for market share.

Mr Yang did not name either firm and did not threaten specific sanctions, but Chinese authorities have issued huge fines in competition probes in the past, and his comments represent a warning shot to the upstart industry.