China has dispatched a team of officials to conduct on-site inspections at Didi Global as part of a probe into the ride-hailing giant, reported Bloomberg. Officials from the Cyberspace Administration of China, Ministry of Public Security, Ministry of State Security, Ministry of Natural Resources, as well as the tax, transport and antitrust regulators are beginning an investigation into […]
Category: Markets
Chinese companies that have the data of more than 1 million users will need to pass a security review before issuing shares on overseas stock exchanges, the country’s internet regulator said on Saturday, reported the Financial Times. The announcement from the Cyberspace Administration of China came less than a week after the State Council, China’s […]
The top news has been Didi Chuxing’s huge IPO in New York, followed by the sudden, and for sure carefully-timed announcement from Beijing that Didi was subject to a security review based on use of its user data. Didi’s share price tanked up to 25% before recovering slightly. But the timing of it all, in […]
China’s most popular fitness app pulled out of plans to file for an initial public offering in the US last week as Chinese regulators announced an investigation into data security concerns at Didi, reported the Financial Times. Keep, which is backed by Japan’s SoftBank and China’s Tencent and is expected to raise up to $500m, […]
Two senior members of Congress have called on the Securities and Exchange Commission to investigate whether Didi Chuxing, the Chinese ride-sharing company, misled US investors ahead of its initial public offering last week, reported the Financial Times. The senators, who sit on the powerful Senate banking committee, said they wanted the SEC to examine whether […]