China's largest ride-hailing app, Didi Chuxing, says it's received US$1 billion from US tech giant Apple. This investment is the single biggest that Didi has ever received.  And it makes Apple a strategic investor in the company. Apple's Chief Executive Tim Cook says this move will help the company to understand the Chinese market better.

Didi Chuxing, formerly known as Didi Kuaidi, says it has nearly 300 million users in over 400 Chinese cities. According to the company, it holds about 87-percent of the private-car-hailing market in China, and about 99% of its taxi-hailing market. Some analysts say the investment suggests Apple is placing greater focus on app developers in China, now its second largest market.