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Didi kneels down to China regulatory pressure, set to delist from NYSE

News Snapshot:

In what could be witnessed as a stunning triumph for regulatory authorities in Beijing’s pro-CCP backed Government , Chinese ride-hailing giant Didi Chuxing, listed as Didi Global Inc in Nasdaq, said in a statement on Friday that the company was brewing off an option to retire from NYSE and move back to pursue a listing in Hang Seng, as the ride-sharing giant appeared to have capitulated amid a tremendous scale of pressure from Chinese regulators. On top of that, Didi said in the company’s Weibo account, “Following careful research, the company will immediately start delisting on the New York stock…

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