Uber has agreed to sell its Chinese operations to rival Didi Chuxing, throwing in the towel on its costly battle for the Chinese ride-hailing market.

优步(Uber)已同意将旗下中国业务出售给竞争对手滴滴出行(Didi Chuxing)，在争夺中国叫车应用市场的成本高昂的战斗中低头服输。

Under the terms of the deal, set to be announced in coming days, Didi will acquire all of Uber China’s operations and investors in Uber China will get a 20 per cent stake in Didi, according to two people close to the transaction..

据两名知情人透露，该交易将于几天后公布，根据协议条款，滴滴将收购优步中国全部业务，优步中国的投资者将得到滴滴20%的股份。

Didi, which is China’s largest ride-hailing company, will also invest $1bn in an equity stake in Uber’s global business, in a deal that brokers a truce between the two of the most fiercely competitive car-hailing companies in the world.

作为中国最大的打车应用企业，滴滴将投入10亿美元入股优步全球业务，该交易将让这两家全球竞争最激烈的打车应用企业停止争夺。

The new alliance will draw an end to a fight that had seen the companies pour billions of dollars into subsidies for passengers and drivers as each sought to gain market share. China legalised ride-hailing just last week, clearing the way for the market to expand further.

为夺取市场份额，两家公司已投入数十亿美元补贴乘客和司机，新的合并协议将结束这场补贴大战。就在上周，中国将网约车合法化，为该市场进一步扩大扫清了道路。

The idea of a tie-up was first aired by Uber chief executive Travis Kalanick more than two years ago when he met Cheng Wei, the founder of Didi, in Beijing. Both Uber and Didi have been on a fundraising spree in recent months, with Didi raising more than $7bn in debt and equity in June. Uber raised $3.5bn from Saudi Arabia’s sovereign wealth fund around the same time. Even as both companies prepared to spend their war chests to fight for market share in China, the unprecedented scale of the fundraising also made clear to both sides how costly it would be to continue the battle.

优步首席执行官特拉维斯•卡兰尼克(Travis Kalanick)于两年前在北京与滴滴创始人程维会面时，首次提出了合并的想法。近几个月来，优步和滴滴都经历了融资狂欢，滴滴通过债券融资和股权融资筹款超过70亿美元，同一时间优步从沙特主权财富基金筹得35亿美元。虽然两家公司都准备好将它们的弹药箱投入到这场中国市场份额争夺战里，但此轮筹资的空前规模也令双方明白，继续战斗将造成怎样的损失。

Discussions about a deal only got serious during the past few weeks, after the fundraisings were complete, according to a person close to the transaction.

据这笔交易的一位知情人介绍，合并谈判在过去几周才严肃起来，就在此轮融资结束后。

However Didi’s new alliance with Uber could prove awkward for Lyft, Uber’s main rival in the US. Didi is an investor in Lyft, and the two companies have linked their apps so that Didi’s Chinese can summon a Lyft car while travelling in the US.

不过滴滴与优步的合并可能令Lyft——优步在美国的主要竞争对手——陷入尴尬境地。滴滴是Lyft的投资者之一，两家公司的应用已进行关联，中国用户在美国旅行时可使用滴滴应用叫来Lyft汽车。

News of the deal was first reported by Bloomberg News. Rumours of a transaction were widespread on Chinese social media over the weekend, as an alleged draft blog post by Mr Kalanick about the deal circulated online.

该交易的消息最早由彭博新闻(Bloomberg News)报道。上周末中国社交媒体上充斥这关于这笔交易的传闻，一篇所谓卡兰尼克撰写的关于交易的博客在网络上流传开来。

Uber declined to comment. Didi did not respond to multiple requests for comment.

优步方面不予置评，滴滴也没有回应多个置评请求。