July 9, 2021
Didi Global fell for the third consecutive session on Wednesday after China ordered the app removed from mobile app stores as the country increases data security scrutiny on its overseas-listed companies.
Investors and analysts said Chinese tech firms may move to boost data security compliance after the Didi probe.
The Cyberspace Administration of China said Didi violated laws and regulations regarding the collection and use of personal information in a notice published on July 4, days after the ride-hailing giant raised $4.4 billion in its New York Stock Exchange debut. Click here to find out more.
(Sources: China Report)
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