- The shares of two Chinese tech companies – Full Truck Alliance and Kanzhun – fell on Tuesday after the initiation of the regulatory review in China.
- China’s cybersecurity regulator said the reviews are aimed at containing national security risks.
- Didi shares slumped after China ordered the ride-hailing app to be removed from stores.
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Shares of two US-listed Chinese tech companies fell sharply on Tuesday after a Chinese regulator put them through a security review days after launching a similar measure against ridesharing service Didi.
China’s Cybersecurity Review Office will review two truck-hailing apps from the Full Truck Alliance and an online-based recruiting app from Kanzhun “to prevent national data security risks, uphold national security, and protect the public interest,” it said a translation of …