Auto Alibaba, Tencent, car makers set up $1.5 billion China ride-hailing venture Updated : March 22, 2019 05:36 PM IST China is home to the world's largest ride-hailing market, estimated by consulting firm Bain & Co to be worth $23 billion. Of that, Didi Chuxing takes 90 percent of all bookings. Didi, which is backed by Japan's SoftBank Group Corp and Uber Technologies, also has joint ventures with BAIC and Volkswagen. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.