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Chinese Authorities Ask Ride Sharing Giant Didi to Delist from New York Stock Exchange

November 27, 2021
Source: visiontimes.com visiontimes.com
News Snapshot:
As Chinese leader Xi Jinping’s crackdown on the nation’s big tech continues, the latest company to face issues is ride-sharing app Didi Chuxing Technology Co. On Nov. 25, Chinese regulators asked Didi’s top executives to delist from the New York Stock Exchange as soon as possible, citing concerns over data security. The Cyberspace Administration of China (CAC), the nation’s agency responsible for the management of sensitive data, has asked Didi to work out precise details in removing itself from U.S. bourses. In addition, it asked that the plan be submitted for government approval within a certain time frame. According to...
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Tags: Alibaba | app | Bloomberg | Cheng Wei | China | Chinese | crackdown | Cyberspace Administration of China | data | delist | e-commerce | finance | Hong Kong | Internet | investment | ipo | Japan | New York | online game | online shopping | stock exchange | stocks | technology | Tencent | Tokyo

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