Didi

All news and posts of our editorial team on the topic

Didi allowed to register new customers again
Chinese ride-hailing service provider Didi Global is once again allowed to register new customers after 18 months. The authorities granted the tech company the corresponding approval last week. Since Monday, it is now again possible to download Didi’s 25 smartphone apps and open an account.“Over the past year or so, we have carefully cooperated with […] continue reading →
DiDi car sharing subsidiary rumored to be bankrupt
According to a blog post, the car-sharing branch of mobility service provider DiDi Chuxing is experiencing difficulties. An employee shared information about the bankruptcy on Weibo, Pandaily reports. Previously, authorities imposed a billion-dollar fine on the parent company to sanction it for its business practices (China.Table reported).For years, the company had burned money to offer […] continue reading →
Insider: billion fine for DiDi
According to insiders, Chinese authorities are preparing a fine of more than €1 billion against ride service provider DiDi. The payment is for more than ¥8 billion (equivalent to €1.25 billion), about five percent of DiDi’s annual revenue, people familiar with the matter said on Tuesday. The Wall Street Journal reported on it first. The […] continue reading →
Things are looking up for DiDi
The Chinese Uber rival Didi had a terrible year. Following pressure from Beijing, it has delisted from the US stock market. The company is now likely to be rewarded for this. continue reading →
DiDi withdraws from Wall Street
Chinese ride-sharing service provider DiDi Chuxing plans to withdraw from Wall Street just five months after its IPO in New York. Following the announcement, DiDi shares fell by more than 22 percent on Friday to a price of $6, significantly less than at the stock market debut at the end of June. The issue price […] continue reading →
Report: DiDi loses top executive
The Chinese tech industry is facing the loss of another renowned leader. Co-founder Jean Liu will leave ride-hailing company DiDi Chuxing. She made the announcement to close confidants at the company, according to a report by Reuters.The 43-year-old is one of the central figures at Didi, over whose desk numerous trend-setting strategic decisions have passed. […] continue reading →
Authority wants to prohibit US IPOs
Beijing is set to issue new rules to prohibit companies with large amounts of sensitive consumer data from going public in the US, according to a report. China’s stock market regulator has told companies and investors that the proposed rules are intended to block an initial public offering (IPO) of shares overseas, Bloomberg reported, citing […] continue reading →
DiDi postpones expansion to Europe
Ride-hailing services company DiDi Chuxing has put its European plans on hold for at least a year. This was reported by the British newspaper The Telegraph. The company originally had planned to offer its services in several European cities of Germany, France and the UK. The report cites new privacy regulations by Chinese authorities as […] continue reading →
New opportunities through tech crackdown
The US rating agency S&P sees China's crackdown on its tech giants as an opportunity to put the country's economic growth on a healthier footing, greater competition, and increase the diversity of companies. Other Western tech analysts share a similar view and speculate that the interests of Beijing and Western nations in the tech giants are not so different after all. continue reading →
China’s private initiative deficit
Star US economist Stephen Roach has long defended the future viability of China's tech sector. But the recent crackdown on innovation leaders by the government has him doubting. continue reading →
A campaign against private tutoring
Up until now, an investment in China's rapidly growing market for private education was considered a surefire bet. But now Beijing is cracking down on the industry with astonishing aggressiveness. At the stock market, vendors are experiencing a dire situation. However, whether these new rules will actually allow for more free time for stressed students and more equal educational opportunities, is a matter of doubt. continue reading →
Fines for content exploiting children: China reprimands online platforms
China’s Cyberspace Administration CAC has ordered several of the country’s largest online platforms to remove inappropriate child-related content. Kuaishou, Tencent’s messaging tool QQ, Alibaba’s Taobao and Weibo are to “correct” and “clean up” the illegal content, as the authority issued in a statement. The platforms were also fined. The CAC stated that the operation focused […] continue reading →
China slaughters its Golden Goose
Beijing's action against Didi appears to be just the beginning of a wider campaign to seize control of China's thriving tech sector. China's tech entrepreneurs are in for a rude awakening. Meanwhile, Washington's worries may have unfounded. The Chinese government seems to be doing everything in its power to lose its tech race with the US. continue reading →
How Hong Kong profits from Didi’s predicament
The crackdown on ride-hailing service Didi Chuxing by Chinese authorities has had consequences: several Chinese companies have canceled their IPOs in New York. China's government is making the clear statement that it wants more IPOs in Hong Kong instead. continue reading →
Stricter controls on IPOs abroad
China plans for almost all companies to undergo cybersecurity checks before a possible overseas listing in the future. According to a regulatory proposal by China’s cyber regulator, all companies that hold data of more than one million users will have to apply for data security approval before listing overseas, Bloomberg news agency reports. There is […] continue reading →
US investors sue Didi over plunging share price
After being under fire by regulators in China, Didi Chuxing is now being targeted by angry investors in the US. Two groups are filing complaints against the ride-hailing service in New York and Los Angeles. Dozens of law firms want in on the potential business of compensation for alleged stock market fraud. Didi had gone […] continue reading →
China’s diet plan for data hunger
The increasing number of IPOs of Chinese companies abroad is apparently a thorn in Beijing's side. Officials claim that there is great concern that foreign powers - for example in the US - could access their collected data. It is not yet clear whether the tightened rules are about a power struggle between the state and the private sector, or whether the state is actually committed to protecting its citizens' personal data. It's quite possible that both is true. continue reading →
Crackdown on didi with severe consequences on Wall Street
Spirits were high when the stock of Chinese ride-hailing service Didi went public in New York. However, just two days later Beijing started a crackdown campaign against the company. Western investors are becoming increasingly skeptical about Chinese IPOs. continue reading →