Jiaxing Issues Warning on Ride-Hailing Job Saturation in China
The Growing Concern of Market Saturation
Jiaxing, in eastern China's Zhejiang province, issued a risk alert regarding the saturation of the ride-hailing market. Local governments across regions like Shenzhen and Suzhou have echoed similar warnings about the oversupply of drivers. With economic activity slowing, demand for ride-hailing services is diminishing, leading to an average decline of orders and earnings for drivers.
Recent Trends and Economic Impact
- The average daily orders per vehicle in Jiaxing fell to 11.9, down from previous quarters.
- In the provincial capital Nanning, ride-hailing orders have dropped over 10% year-on-year.
- The ongoing economic slump, marked by a 4.7% growth rate, is exacerbating unemployment across the nation.
Technology and Future Disruptions
As traditional ride-hailing struggles, emerging technologies, such as driverless taxis, pose further challenges. Companies like Baidu are expanding autonomous ride-hailing services, threatening conventional industry norms.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.