China's Didi Kuaidi ups stakes in taxi apps war

May 22 2015 3:40AM EST | Source: REUTERS Technology

BEIJING (Reuters) - China's dominant taxi-hailing firm Didi Kuaidi will spend 1 billion yuan ($161.39 million) on promotions, the company said on Friday, in an aggressive expansion that will help lure in riders and fend of rivals like U.S. firm Uber Technologies Inc.