Uber Technologies is selling its operations in China to Didi Chuxing, its long time competitor in the Chinese ride-hailing market, reported China Securities Journal on August 1. Didi Chuxing will own Uber China's brand, business and data, and will make a US$1 billion investment in Uber's global company. Uber will have a 5.89% stack in Didi. Moreover, Didi founder Cheng Wei and Uber Chief Executive Officer Travis Kalanick will join each other's board of directors. Despite of the merger, Uber China will remain the independence of its brand and operations while Didi Chuxing plans to leverage their mutual experiences in management and technology for future development.