No plans to expand car-hailing services: China's Meituan
Tencent-backed Chinese startup Meituan-Dianping will not expand its bike-sharing and ride-hailing services beyond its two piloting cities Shanghai and Nanjing, the company said. The firm's operating losses tripled to 3.45 billion yuan (about $497 million) in the three months to September. Meituan posted a 97.2% jump in revenues to 19.1 billion yuan ($2.75 billion) during the same period. 