August 1, 2021

China investigates Didi over cybersecurity days after its huge IPO

The app logo of Chinese ride-hailing giant Didi is seen reflected on its navigation map displayed on a mobile phone in this illustration picture taken July 1, 2021. REUTERS/Florence Lo/Illustration

BEIJING/HONG KONG, July 2 (Reuters) – Didi Global’s (DIDI.N) shares fell more than 10% in New York on Friday after China’s cyberspace agency said it had launched an investigation into the Chinese ride-hailing giant to protect national security and the public interest.

The Cyberspace Administration of China (CAC) said on its website that Didi was not allowed to register new users during its investigation, which was announced just two days after Didi began trading on the New York Stock Exchange. read more

Beijing-based Didi said in a statement to Reuters that it planned to conduct a comprehensive examination of cybersecurity risks and would cooperate fully with the relevant government…

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