RIDE-HAILING firms and online trucking platforms in China will have to set reasonable caps on their fees and make their pricing rules public this year, Wang Xiuchun, a senior official at the Ministry of Transportation, said at a press conference Thursday.

The plan to rein in commissions and offer more transparency was signaled in guidelines issued in November by several government agencies and mirrors the recent request for food delivery services to also cut fees.

Didi Global Inc. and Full Truck Alliance Co. will likely be the two companies most immediately impacted by the move, as the domestic leaders in their respective spheres.

The National Development and Reform Commission on Friday issued a set of rules to promote a faster recovery from the pandemic in the services sector, including guidance for online food delivery platforms to reduce service fees to help to lower operating costs for catering businesses.

China’s sharing economy transaction scale reached around 3.69 trillion yuan (US$583.77 billion) in 2021, up 9.2 percent from a year earlier, according to the latest China Sharing Economy Development Report released recently by the State Information Center.

However, the report pointed out that the market of sharing economy in China saw imbalanced development. (SD-Agencies)