Didi Chuxing, China's ride-hailing app, has decided to build a smart traffic app in China with the help of a large database that has been built and consolidated in the past four years since Didi's establishment, said Cheng Wei, chairman and CEO of Beijing Orange Technology Co Ltd, the parental company of the app.

Cheng announced the move while attending the China Big Data Industry Summit and China E-Commerce Innovation and Development Summit held from May 26 to 29 in Guiyang, capital of Guizhou Province.

"The demand of a smart traffic service is like the tides continuously splash on the beach, one after another, so we’ll call our app 'Tides'," Cheng said.

Despite large growth since its establishment four years ago, Cheng dismissed the rumor that Didi Chuxing is seeking an initial public offering in the United States.

Apple has invested US$1 billion in Didi Chuxing this month.

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