Editor’s note: This article is part two 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. The front operation behind Didi Global Inc.’s monopoly is the family of Liu Chuanzhi, the founder of Lenovo Group, who has strong ties with the elite…
Exposing the Red Elites Behind ‘Chinese Uber’ Didi (Part 2)
July 22, 2021
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Business & EconomyCCP militaryChinaChinese RegimeDidiInternational RelationsLenovo GroupmilitaryUS-China relations
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Exposing the Red Elites Behind China’s Uber (Part 1)
July 19, 2021
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AlibabaBusiness & EconomyCheating Wall StreetChinaChinese RegimeDidiDidi ChuxingFinance & Business TiesmilitarySpecial TopicsUS-China relations
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China’s largest online ride-hailing platform, Didi Chuxing, was listed on the New York stock exchange at the end of June. Days later, a cybersecurity review followed along with the removal of all its apps, resulting in its share price plunging. It was a massive reversal of fortunes which also resulted in the exposure of some red power…
Chinese Regulators Send Teams to Didi for Cybersecurity Review
BEIJING—The Cyberspace Administration of China (CAC) said on Friday that officials from at least seven departments sent teams to conduct an on-site cybersecurity review of ride-hailing giant Didi Global Inc. The regulators include the CAC, Ministry of Public Security, Ministry of State Security, Ministry of Transport, Ministry of Natural Resources, State Taxation Administration, and State Administration…
‘This is Thievery’: Gordon Chang Decries China’s Didi Crackdown Days After IPO
Beijing’s recent crackdown on ride-hailing giant Didi Global shows that the overriding priority of the communist regime is control, according to China expert Gordon Chang. On July 2, the Chinese regime’s internet regulator ordered the company to stop signing up new users, pending a security review process. This came just two days after Didi began…
Xi Signals “Impossible” for Tech Giants to Seek Overseas Listing, Says Expert
July 13, 2021
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Business & EconomyCheating Wall StreetChinaChinese RegimeDidiFinance & Business TiesSpecial Topicsstability maintenanceState Council
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China’s homegrown tech giants confront insurmountable obstacles when listing abroad, as the Communist Regime has stepped up efforts to control them, says a China expert. Li Hengqing, a scholar at the Washington Institute for Information and Strategy, said the proposed scrutiny of all offshore listings was aimed at stopping companies’ data, and more importantly, money…
US Should Not Allow ‘Predatory’ Chinese Firms Like Didi to Take Advantage of American Investors: Sen. Rubio
Chinese companies should no longer be allowed to list on U.S. exchanges and take advantage of American investors in light of the recent debacle involving ride-hailing giant Didi Chuxing following its debut on the New York Stock Exchange (NYSE), according to Sen. Marco Rubio (R-Fla.). Didi’s woes began on July 2, just two days after…
Didi Confirms China App Removals, Sees Revenue Hit
China’s Didi Global Inc. on July 12 confirmed the country’s cyberspace administration had notified app stores to remove the ride-hailing company’s 25 apps and said the move could impact its revenue in the region. Cyberspace Administration of China (CAC) said last week it will remove the mobile apps operated by Didi from app stores as…
Didi Debacle Has Forever Changed Chinese Offshore IPOs
Commentary The United States and China are beginning to agree on one thing—that Chinese technology companies selling shares on U.S. stock exchanges may not work. Just days after Chinese ride-hailing company Didi Global Inc.—the U.S. listed affiliate of Didi Chuxing—was IPO’ed in New York earlier this month, China’s cyber security watchdog launched an investigation into…
Didi: A Tale of Deceit and Disrespect
Commentary China’s largest ride-hailing service is currently being investigated by Chinese regulators. The accusations against Didi involve the illegal collection of users’ data. The app is no longer available for download in China. Shares in Didi have plunged by 20 percent. The Chinese Communist Party’s (CCP’s) announcement came just days after Didi made its much-publicized Wall Street…
China Ride-Sharing Company Didi Sees Shares Plunge
More bad news for China’s version of Uber. Ride-share service DiDi’s stock shares plunged over 20 percent after a crackdown from Chinese authorities. Its fall from stardom comes after a breakout listing in the U.S. stock market. An American city councilman has been removed from his post, all because he vocally blames Beijing for the…
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