Didi launches financial service products amid tightened regulation

Chinese ride-hailing firm Didi has launched a series of financial service products, highlighting its efforts to diversify its business lines amid increased government scrutiny.

The in-app features, which include access to funds for critical illness protection, are now available to all users across China. Users who join the program can access as much as RMB 500,000 (around $70,000) in protection from life-threatening conditions, including cancer, leukemia, and paralysis, Didi claims. Other services include wealth management, personal credit, and lending.

This is the first time Didi has showcased its financial services business to everyone on its platform. It previously announced the fintech business group at the beginning of 2018 after it was granted a payment license by fully acquiring a Beijing-based online payment enterprise back in December 2017 (in Chinese).

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