Beijing had launched cybersecurity probe into the Chinese ride-hailing giant Didi Chuxing to address national security risks arising from its public listing in the United States, according to Chinese state media reports. The Chinese moved to investigate Didi began just two days after its shares began trading on New York Stock Exchange in July, raising $4.4 billion in one of the largest U.S. initial public offerings (IPO) over the past decade. The country’s top internet regulator, the Cyberspace Administration of China, at the time cited “preventing national data security risks, protecting national safety, and ensuring public interests” as reasons for the review. The Oct. 10 report from state news agency Xinhua was the first official statement since July revealing clues about Beijing’s thinking behind the crackdown. Immediately following the review of Didi in July, authorities also launched similar probes into three other U.S.-listed Chinese firms, including personnel recruiting app Boss …
Beijing Probing Didi Over National Security Risks Tied to its US Listing
October 11, 2021
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Business & EconomyChinaChina Business & EconomyCompaniescybersecurityDidiNational SecurityUSUS NewsUS-China relations
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