The supervisory authorities have ordered the driver service provider not to acquire any more new customers

Chinese stocks Transportation service provider Didi fell sharply this morning after it was revealed that its domestic regulators are investigating the newly listed company. A loose translation of the investigation’s official notice shows that the cybersecurity clearance “is to prevent national data security risks, uphold national security and protect the public interest”.

Yesterday the regulators ordered Didi to stop registering new users during the investigation.

The move comes amid a major reorganization of the relationship between China’s emerging technology sector and its autocratic government. Other aftermaths of the campaign included Jack Ma’s effective silence, the embarrassing cancellation of Ant’s IPO and crackdown on data collection by tech companies in general.


The exchange researches start-ups, markets and money.
Read it every morning on Extra …



Source link

Leave a Reply