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UPDATE 4-Beijing city looks to take Didi under state control, Bloomberg News reports

September 4, 2021
Source: netscape.com netscape.com
News Snapshot:
09/03/2021 17:35 (Adds legal expert comment) Sept 3 (Reuters) - Beijing city is considering taking Didi Global under state control and has proposed that government-run firms invest in the Chinese ride-hailing company, Bloomberg News reported. The central thrust of the city government's proposal is to regain control over one of its largest corporations, and particularly the data it holds, Friday's Bloomberg report said. Chinese authorities have stepped up their regulation of technology firms in the past year to improve market competition, data handling and their treatment of employees. Under the preliminary proposal, some Beijing-based companies including Shouqi Group, part of...
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