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China Fines Leading Ride Hailing App Didi $1.2 Billion in Ruling That Clarifies Violations of Data Laws

July 26, 2022
Source: cpomagazine.com cpomagazine.com
News Snapshot:
Ride hailing giant Didi’s exile into the wilderness appears to be ending, and the Chinese government’s harsh wave of regulatory crackdowns has taken sharper focus, as the investigation has concluded and a fine of $1.2 billion has been announced. Didi was accused of violating China’s data laws last year, but the government revealed little in the way of details about what it had actually done. The crackdown on the ride hailing app came shortly after it listed on the New York Stock Exchange, with other Chinese companies in the same situation receiving a similarly harsh response from the government. Chinese...
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