Didi denies reports that China is coordinating companies to invest in it

Chinese giant Didi Global said on Saturday that media reports that the Beijing city government is coordinating companies to invest in it are not accurate. “Didi is currently actively and fully cooperating with the cybersecurity investigation. Foreign media reports that the Beijing city government is coordinating companies to invest in it are incorrect,” the document … Read more

Didi could come under Chinese state control, Beijing proposes government-run companies to invest in company: report

The city of Beijing is considering putting Didi Global under state control and has proposed that state-owned companies invest in the Chinese pedestrian company, Bloomberg News reported. The central thrust of the Beijing city government’s proposal is to regain control over one of its biggest corporations, and particularly the data it holds, said Friday’s Bloomberg … Read more

Didi workers promise union in innovative action for China’s tech sector

Chinese giant Didi Global will help form a union for its employees, said two people familiar with the plan, a landmark move in the country’s tech sector, where unions are extremely rare. The move comes amid harsh regulatory crackdowns on China’s biggest tech companies, which have carried out a range of antitrust investigations and fines … Read more

China’s Regulatory Enforcement Summary: From Bitcoin to Celebrity Fan Clubs – Nothing is Off the Table

China has launched a multifaceted crackdown on its tech companies, leaving startups and decades-old companies operating in a new and uncertain environment. Here are the sectors that are facing regulatory pressure: game companies Chinese regulators have reduced the amount of time players under 18 can spend online gaming to one hour of gaming on Fridays, … Read more

China said it plans to ban overseas IPOs for technology companies with data security risks

China is establishing rules to ban Internet companies whose data poses potential security risks from being listed outside the country, including in the United States, according to a person familiar with the matter. The ban must also be imposed on companies involved in ideological issues, said the source, who declined to be identified because the … Read more

China Critical Data Rules Not Targeted at Companies Planning Foreign IPOs: Regulator

The upcoming rules in China to protect critical information infrastructure are not aimed at companies planning overseas listings, and all companies should be involved in ensuring network security, said a senior cyberspace regulator. Sheng Ronghua, deputy minister of China’s Cyberspace Administration (CAC), made the comments at a State Council meeting on Tuesday when asked how … Read more

Didi suspends UK launch plans amid crackdown on tech companies in China: report

Chinese giant Didi Global has suspended its launch plans in Britain and continental Europe, The Telegraph reported on Monday, amid a domestic regulatory backlash over data privacy. Employees working on the planned launches were told they would face possible redundancy and Didi stopped hiring in Britain, withdrawing launch plans for at least a year, according … Read more