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Beijing Eyeing Take Over of Ride Sharing App, Didi; Encourages State-owned Companies to Invest

September 7, 2021
Source: visiontimes.com visiontimes.com
News Snapshot:
The Chinese government is encouraging government-run firms to invest in the Chinese ride-hailing company, Didi, as Beijing considers taking over control of the publicly traded Chinese technology giant, Bloomberg News has reported. It appears Beijing is seeking to obtain complete control over one of its largest tech companies and the data it holds and collects. In a preliminary proposal, Beijing has encouraged companies, including the Shouqi Group and state-owned Beijing Tourism Group to acquire a stake in Didi. If the proposal was implemented, the Shouqi Group, which owns and operates another ride-hailing service in China, would be expected to play...
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