Uber announced on Thursday that it has registered a company in Shanghai Free Trade Zone and is preparing to apply for a license to run an online taxi booking platform.
With a registered capital of 2.1 billion yuan, the company is named Shanghai Wubo Information Technology Limited Company. This is the first time for Uber to set up a company of independent operation outside the United States.
Uber promises a total investment of 6.3 billion yuan in China as a commitment to long-term and stable development in this market.
According to a person in charge of Uber's business in China, they will apply for the online taxi booking platform license as soon as China promulgates a related regulation.
Since Uber entered China in February last year, it has entered 21 cities, including Shanghai, Beijing, Chengdu and Hangzhou, and plans to expand its business to 100 other cities across China.
Uber is an international transportation network company headquartered in San Francisco and provides taxi-call service through its mobile app.