Chinese insurance giant China Life Investment Holding Co. has officially joined the ranks of investors behind the country’s largest ride-hailing app and Uber’s biggest global competitor, Didi Chuxing.

The Chinese startup confirmed on Monday that they have received a $600 million USD strategic investment from the life insurer, which includes a $300 million USD equity investment and a further $305 million USD long-term debt investment.

The latest investment also brings to light an interesting twist: China Life has previously invested in Uber. In April 2015 we reported that China Life had invested about $200 million USD  in the U.S. ride-hailing app.

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com