Didihas been accused of misleading investors in two class action lawsuits in the US, with one arguing that the ride-hailing giant did not disclose a warning from China’s internet regulator to delay its New York IPO until it had reviewed its network security, reported Caixin. The claim, which if proven could put the Chinese firm […]
Category: Markets
Didi lost one-fifth of its market value after Chinese regulators announced an investigation into the ride-hailing app that last week raised more than $4 billion in a New York IPO, reported the Financial Times. China’s top government body, the State Council, said it would act to strengthen the protection of sensitive data related to overseas […]
Beijing has broadened a crackdown on tech platforms, targeting more US-listed companies after ordering the removal of ride-sharing group Didi Chuxing from Chinese app stores in a move that sent tech shares tumbling, reported the Financial Times. The Cyberspace Administration of China on Monday announced that it was investigating Boss Zhipin, an online recruitment company, […]
China’s cyber security regulator has ordered that Didi be taken off domestic app stores just days after the ride-hailing giant raised $4.4 billion in the biggest Chinese listing in the US since Alibaba in 2014, reported the Financial Times. The Cyberspace Administration of China said on Sunday evening that Didi’s app had “problems of seriously […]
The party celebrated the 100th anniversary of its founding in the French concession of Shanghai, and its leader Mr Xi delivered a powerful speech which warned that anyone who threatened to oppress the Chinese people would have their heads cracked as they hit the “steel Great Wall”. So no beating around the bush. This is […]