Uber announced today that the company has set up a subsidiary named Shanghai Wubo Information Technology Co., Ltd. in Shanghai Free Trade Zone. With a registered capital of 2.1 billion RMB ($330 million USD), this will make Uber the largest registered internet company in Shanghai.

Uber disclosed that it is transferring all business in China to local servers. To further push its China expansion, the company is going to invest a total 6.3 billion RMB ($992 million USD) in the country over the coming years.

The U.S. taxi app, which first landed in China in February 2014, already operates in 21 Chinese cities, including Shanghai, Beijing, Chengdu and Hangzhou. Now, its looking to increase that number to 100 within the next 12 months with the launch of more localized services, according to an announcement from the company.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.