Uber says it losing $1 billion a year to compete in China

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Uber says it losing $1 billion a year to compete in China

Uber says it losing $1 billion a year to compete in China
SHANGHAI (Reuters) - The chief executive of Uber Tech**logies Inc said the company is burning through more than a billion dollars a year in China, where it is locked in a fierce battle with larger local rival Didi Kuaidi to lure consumers with cut-price deals.

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