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Why Didi Shares Are Falling and Why China Is Cracking Down?
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Why are Alibaba stocks so unstable these days?
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Didi undoubtedly has the most detailed travel information on individuals among large Internet firms and appears to have the ability to conduct “big data analysis” of individual behaviours and habits, the Global Times wrote. To protect personal data as well as national security, China must be even stricter in its oversight of Didi’s data security, given that it’s listed in the US and its two largest shareholders are foreign companies, the newspaper added. Reuters
China expanded a cybersecurity probe beyond Didi Global Inc to include two other recent US debutantes, moving with surprising swiftness to tighten its control over Internet data in the interests of national security.
China blocks SoftBank-backed Didi from app stores days after U.S. IPO Sorry, but your browser needs Javascript to use this site. If you re not sure how to activate it, please refer to this site: https://www.enable-javascript.com/
The Didi Chuxing Inc. ride-hailing app | BLOOMBERG
Bloomberg Jul 5, 2021
China’s cyberspace regulator has ordered app stores to remove Didi Chuxing, dealing a major blow to a ride-hailing giant that just days ago pulled off one of the largest U.S. initial public offerings of the past decade.
The Cyberspace Administration of China announced the ban Sunday, citing serious violations on Didi Global Inc.’s collection and usage of personal information, without elaborating. That unusually swift decision came two days after the regulator said it was starting a cybersecurity review of the company.
Why Is China Cracking Down on Ride-Hailing Giant Didi?
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