When Chinese ride-hailing service Didi Chuxing went public in New York two weeks ago, spirits were high. But it didn’t last long. Mere two days later, Beijing launched a crackdown on its Uber rival. Regulators ordered the removal of the Didi app from all Chinese app stores until further notice. New users will no longer be allowed to sign up on the platform for the time being. Didi’s share price has since lost over 20 percent in value (China.Table reported).
Continue reading now
Get 30 days of free access to the Decision Brief to read these and more quality news every day.
Are you already a guest at the China.Table? Log in now