Beijing has expanded its crackdown on tech platforms, targeting more US-listed companies, after orders were placed to remove Didi Chuxing’s ride-sharing service from Chinese app stores, causing tech stocks to tumble.
The Cyberspace Administration of China announced on Monday that it was investigating Boss Zhipin, an online recruitment company, and the Chinese truck hailing apps Yunmanman and Huochebang, which merged to form the Full Truck Alliance in 2017. The platforms are not allowed to register new users while they are being investigated.
The CAC’s announcement cited suspected violations of China’s national security and cybersecurity laws without giving any details.
The regulatory procedure shook the Asian markets on Monday. Japanese company SoftBank, whose Vision Fund is a large Didi investor, fell 5 percent, while Internet companies Alibaba and Tencent in Hong Kong fell 2.4 percent and 3.9 percent, respectively.
Didi’s shares fell 5.3 percent on Friday, …