Chinese ride-hailing giant Didi Global Inc has suspended its plans to launch in Britain and continental Europe, The Telegraph reported on Monday, against the backdrop of a regulatory backlash at home over data privacy. Staff working on the planned launches have been told that they face possible redundancy and Didi has stopped hiring in Britain,…
Didi Suspends UK Launch Plans Amid China Crackdown on Tech Firms: Telegraph
China’s Entertainment Industry May Be Next Crackdown Target, Expert Says
Following crackdowns on the big-tech and education sectors, China’s entertainment industry may be the next target. This week’s formal arrest of film star Kris Wu marks the beginning of Xi Jinping’s campaign on cleansing the entertainment industry, according to current affairs commentator Li Yanming. Chinese media platforms have removed about 2 million video clips related…
Didi Denies Management Changes Amid Cybersecurity Probe
BEIJING—China’s ride-hailing giant Didi Global Inc said on Thursday that rumors about a possible management change are not true. “Didi is actively and fully cooperating with regulators’ cybersecurity probe, market rumors about management change at the company is not true,” Didi said in a Weibo post. The statement followed a South China Morning Post report,…
DiDi, China, and the Data War
Commentary Welcome to the newest frontier in the struggle between the United States and China for geopolitical dominance: the struggle for control of the strategic commodity of the future, data. The latest casualty in this battle is Didi, the Chinese Uber, UBER +2.8 percent, lookalike with 377 million annual active users and 13 million annual active drivers. Its agony began…
Beijing’s Crackdown on Foreign Money Sends Stern Warning to Investors
The Chinese communist regime’s recent sudden changes in laws and regulations governing businesses across multiple industries remain a topic of discussion and debate
Growing Crackdown Sparks Foreign Exodus From Chinese Stocks
July 27, 2021
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WASHINGTON—China has escalated its regulatory crackdown on its private sector, sending shockwaves across the global markets. The move, which wiped out more than $765 billion of value from U.S.-listed Chinese companies in the past few months, sends a stark message to dozens of domestic firms that seek to tap into U.S. capital markets. Beijing’s crackdown…
US-Listed Chinese Companies Must Disclose Government Interference Risks–SEC Official
July 27, 2021
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Business & EconomyCheating Wall StreetChinaChinese RegimeDidieconomyFinance & Business TiesSEC - U.S. Securities and Exchange CommissionSpecial TopicsUS
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WASHINGTON—Chinese companies listed on U.S. stock exchanges must disclose the risks of the Chinese government interfering in their businesses as part of their regular reporting obligations, a top U.S. Securities and Exchange Commission (SEC) official said on July 26. Democratic commissioner Allison Lee’s comments are the first by an SEC official since Chinese regulators launched…
US Investors Hit by Beijing as Newly Listed Didi Could Face ‘Unprecedented’ Sanctions
Chinese ride-hailing giant Didi Chuxing has taken investors on a roller coaster ride since it became a target of an “unprecedented” clampdown by Beijing just days after its debut on the New York Stock Exchange. The company went public on June 30, raising $4.4 billion from global investors in one of the largest U.S. share offerings of the…
Exposing the Red Elites Behind ‘Chinese Uber’ Didi (Part 3)
Editor’s note: This article is part three of a three-part series. Part 1 looks at Beijing’s crackdown on Didi and introduces the company’s ties to the Chinese military and state-owned businesses. Part 2 looks further into Didi’s ties with China’s business elites, the Chinese military, and Lenovo Group. Chinese investment firm Boyu Capital and its late co-founder Ma…
Why Beijing Is Going After China’s Uber DiDi
Are Chinese stocks safe for American investors? Just this month, one Chinese company sent many of them on a roller coaster ride. China’s version of Uber, called DiDi, entered the U.S. market to sell its stock shares. At first, it was exciting news for Wall Street and looked like a big investment opportunity. But in…
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