Didi Global is preparing to relaunch its ride-hailing and other apps in China by the end of the year in anticipation that Beijing’s cybersecurity investigation into the company will be wrapped up by then, three people directly involved in the relaunch said. The people, who declined to be identified as the information was private, said they expected China’s cyberspace regulator to finalise any penalties on the company in December. Sources didi chinabased ximalaya linkdoc 'Domestic regulators have become more uncomfortable with Chinese media, content firms which operate in the country and obtain voluminous user data, but are incorporated offshore and now seek overseas listings,' one of the sources said. and make it more difficult to raise funds overseas, he said.acked by Alibaba Health Information Technology Ltd. The company has set aside 10 billion yuan (approximately $1.6 billion) for a potential fine, said one of the sources. sources didi ximalaya linkdoc us ipotimes. In July, the powerful Cyberspace Administration of China (CAC) ordered app stores to remove 25 mobile apps operated by Didi – just days after the ride-hailing giant listed in New York. It did not elaborate further.Īirbnb to restrict bookings on its platform in the UK It also told the company to stop registering new users, citing national security and the public interest.Īsked about its preparations to relaunch the apps and the amount set aside for a potential fine, Didi said the information obtained by Reuters was “pure hearsay with no grounds in fact” and that it was cooperating actively and fully with the cybersecurity review. The CAC did not respond to a request for comment.ĭidi shares listed on the New York Stock Exchange rose as much as more 6.7% in early trading on Thursday following the report before slipping back.ĭidi, which has about 377 million annual active users in China, provides 25 million rides a day to users in the country who sign into its app with a phone number and password. Its apps also offer other products such as delivery and financial services. It ran afoul of the CAC when it pressed ahead with its New York listing on June 30, even though the regulator had urged the company to put it on hold while a cybersecurity review of its data practices was conducted, sources have told journalists. Soon after, the CAC launched an investigation into Didi over its collection and use of personal data. SOURCES CHINABASED XIMALAYA LINKDOC US IPOTIMES PROFESSIONAL. We realize that this pilot series will not address all issues, but hope that it will create a platform of community and support, with the potential for continuation in the future. Compare Standard and Premium Digital here.Īny changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel.It said data had been collected illegally and the apps concerned including for its camera device, as well as delivery and financial services. SOURCES CHINABASED XIMALAYA LINKDOC US IPOTIMES SERIES. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many user’s needs. If you’d like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month.įor cost savings, you can change your plan at any time online in the “Settings & Account” section. For a full comparison of Standard and Premium Digital, click here.Ĭhange the plan you will roll onto at any time during your trial by visiting the “Settings & Account” section. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Standard Digital includes access to a wealth of global news, analysis and expert opinion. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages.
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