The Digital Source For China's Tech Innovation Since 2000

Search
Close

Chinese ride-hailing giant Didi hit with $1.2 bn fine

July 22, 2022
Source: kuwaittimes.com kuwaittimes.com
News Snapshot:
BEIJING: China has fined ride-hailing giant Didi more than 8 billion yuan ($1.2 billion), regulators announced Thursday, concluding a year-long investigation into alleged data security violations. Didi has been one of the highest-profile targets of a widespread crackdown on China’s tech firms, which saw years of runaway growth and the emergence of supersized monopolies. The clampdown launched in 2021 wiped billions of dollars off the value of Chinese tech companies. Some were targeted over monopolistic behaviour while others-such as Didi-for cyber and national security concerns. The probe found “conclusive evidence” that Didi had committed violations of an “egregious nature”, the...
Go To Original Source →
Tags: Alibaba | artificial intelligence | Beijing | China | Chinese | Covid-19 | currency | cybersecurity | e-commerce | Economy | European | finance | Hong Kong | Internet | ipo | Li Keqiang | mobile | national security | New York | online shopping | Renminbi | revenue | social media | technology | United States

Other Related News:

Russian founder of cryptocurrency exchange arrested in Miami, accused of dealing with dirty money as part of "high-tech axis of crypto crime"

January 19, 2023

Bitzlato crypto exchange founder charged with illegal transfers of $700 million

January 19, 2023

Big Tech braces for dismal profits, more job cuts

January 19, 2023

Microsoft to shed 10,000 jobs, adding to glut of tech layoffs

January 19, 2023

A Drive to Understand National Capabilities in Critical Technologies The New York Times

January 19, 2023

Texas universities ban TikTok

January 19, 2023

Law Firm Investigating Diablo Immortal For False Advertising

January 19, 2023

PREVIEW-Big Tech braces for dismal profits, more job cuts

January 19, 2023

Formula 1 Carbon Footprint Slammed After 2023 Calendar Release

January 19, 2023
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2023 ChinaTechNews.com. A Service of Asia Media Network.
Twitter