A Chinese sophomore hails a cab in Beijing, gets comfortable in the back seat and starts to play games on his smartphone as the car weaves slowly through the city's congested streets. After a while, he starts to chat with his driver about why he is a frequent user of ride-hailing apps.
Between studying and working as a part-time tutor he enjoys a brief respite while in the taxi. He borrows from Chinese online payment giant Ant Financial to fund his lifestyle in China’s capital city. He simply can’t afford to own a car.
On this occasion, his driver just happens to be Jean Liu, president of...
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