The Digital Source For China's Tech Innovation Since 2000

China Tech Buzz

Global News Impacting Chinese Tech

Rideshare giant Didi leaves New York Stock Exchange, giving in to regulatory pressure from China

News Snapshot:

Just five months after its debut, ridesharing giant Didi Global said it plans to pull out of the New York Stock Exchange and pursue a listing in Hong Kong, a startling reversal as it bowed to Chinese regulators irritated by his USIPO. The company’s shares fell about 15% after swinging between gains and losses in pre-market trading, with investors initially betting the move would appease Beijing and serve as a catalyst for a revival of its business prospects in the country. “After careful research, the company will immediately begin delisting from the New York Stock Exchange and begin preparations for…

Other China Tech Buzz: