PARTNERSHIP: Kalanick (left) and Baidu chairman and CEO Robin Li shaking hands after a signing ceremony and press conference in Beijing, where the two companies announced a strategic investment and cooperation agreement.
BEIJING/SHANGHAI: Deep-pocketed Chinese rivals and tough regulators stand in the way of US car-hailing service Uber's plans to conquer one of the world's biggest transportation markets, even after it signed a tie-up with domestic internet giant Baidu Inc.
The terms of a deal that sees Baidu buy a stake in the fast-growing taxi app operator were not disclosed.
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