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China urges ‘Chinese Uber’ Didi to quit Wall Street

November 28, 2021
Source: newsy-today.com newsy-today.com
News Snapshot:
Chinese authorities have asked Didi, the equivalent of Uber in China, to withdraw from Wall Street where the group has been listed since this summer, Bloomberg reported on Friday, citing sources “close to the matter”. China’s internet regulator has asked Didi to come up with proposals to do so, which will then need government approval, according to the financial agency. The decision, if confirmed, would mark a turning point for Chinese start-ups that have long been encouraged to raise funds in the United States to develop. But amid growing rivalry with Washington, especially in the tech arena, Beijing now fears...
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