Since the Chinese investigations began in July last year, the app has not been found in digital software shops in China.
(Photo: Reuters)
new York In the dispute with the Chinese transport service provider Didi over data security, China has imposed a fine worth billions. The cyberspace regulator fined the so-called ride-hailing provider the equivalent of $1.2 billion, according to documents released in Beijing on Thursday.
The Wall Street Journal had already reported on an imminent agreement on Tuesday. In return, Didi could then get the green light for the planned second listing in Hong Kong, the report said. The ban on accepting new users in China on one’s own app platform should also fall, and the Didi app would be available again in the app stores in the People’s Republic.
Since the beginning of the Chinese investigations into data security and national security in July last year, the app has not been found in the digital software shops in China. Didi is the largest private ride broker in the country.
Beijing was particularly bothered by Didi’s IPO in New York at the end of June 2021 – it was the largest by a Chinese company since online retailer Alibaba went public in 2014. In the meantime, there has also been speculation that Didi could delist on the US stock market.
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Overall, the Chinese government had tightened the reins on large tech and Internet companies in recent years in order to curb their power. Recently, however, there have been signs of relaxation again.
More: Sensitive data hacked – How China’s surveillance state is growing