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China Cracksdown on DiDi, Launches Cybersecurity Probe Into Ride-Hailing Giant

Days after shares in China's largest ride-hailing app started trading on the New York Stock Exchange, Beijing announced regulators would investigate the company over its data security practices. The crackdown has resulted in DiDi's apps being removed from WeChat and AliPay. Reportedly, regulators are weighing "unprecedented penalties" against DiDi for its IPO. The company faces a shareholder lawsuit in the U.S. as a result of the review.

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China Cracksdown on DiDi, Launches Cybersecurity Probe Into Ride-Hailing Giant
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    Why China is investigating Didi and other big Chinese tech firms

    Why China is investigating Didi and other big Chinese tech firms

    verified_publisher
    CBS News

    Chinese regulators have clamped down on the country's largest ride-hailing app, Didi Global, days after its shares began trading in New York. …

    Chinese ride-hailing firm Didi sued in US as shares slide

    Chinese ride-hailing firm Didi sued in US as shares slide

    verified_publisher
    BBC News

    Chinese ride-hailing giant Didi Global is being sued by US shareholders after a crackdown by Beijing triggered a slump in its share price. The two lawsuits come a week after Didi's New York Stock Exchange debut. The company's US market value has fallen by more than 20% since a Chinese regulator told …

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