Commentary “What do investors need to understand, for those investors that are thinking maybe I want to dip my toe in investing in Chinese companies?” asked Maria Bartiromo on July 14, during her Fox Business show, “Mornings with Maria.” The answer is that Beijing is on the road to expropriating the shares held by foreigners in China’s tech companies. The complicated financial structures these companies have used to attract foreign investment are questionable under Chinese law and give Xi Jinping, the Chinese ruler, an excuse now to begin a confiscation campaign. We begin with Beijing’s stunning regulatory attacks on DiDi Global. The company’s shares started trading on June 30 on the Big Board, where it raised $4.4 billion in an initial public offering (IPO). Two days later, China’s Cyberspace Administration halted downloads of DiDi Global’s popular ride-hailing app, DiDi Chuxing. Then, Chinese regulators started investigation after investigation, coming down hard on the business. For instance, on …
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