Chinese Government orders Didi ride-hailing app removed

www-cac-gov-cn.translate.goog

2 points·adarshaj··5 comments

That didn't take long. Will be interesting to see what happens to the NYSE stock price.

- https://www.bloomberg.com/news/videos/2021-07-04/china-block...

- https://www.bloomberg.com/news/articles/2021-07-04/china-reg...

- https://www.bloomberg.com/news/articles/2021-07-02/didi-shar...

One interpretation is that the Chinese government is doing this to punish them for listing in the US rather than in China (which is now encouraged).

Except that Chinese companies list in the US all the time without being penalized by the government, and conversely the list of companies who were called out for illegal data collection includes plenty that are listed in China or haven't IPO'd. Didi is definitely the most high-profile case so far where the app was suspended, though.

Well the timing is interesting, as is the targeting of other companies newly listed in the US [1]

[1] https://www.scmp.com/tech/big-tech/article/3139808/china-lau...

That's certainly interesting. In May, they put the makers of 105 different apps on notice and gave them 15 working days to comply: http://www.cac.gov.cn/2021-05/20/c_1623091083320667.htm It seems like the new normal is to call out companies a few at a time, with penalties starting immediately? I wonder whether there'll be similar announcements every day from now on.

Reply on news.ycombinator.com