Chinese officials plan to impose a fine of over $1 billion on taxi-hailing company Didi Global, according to a report by the Wall Street Journal, which said the penalty would mark the end of a year-long investigation into the company’s operations, cybersecurity practices and handling of personal data.
As soon as the penalty is issued, the Chinese government intends to lift restrictions placed upon Didi that prevented the firm from adding new users to its platform, the report said, noting that some officials said the company’s mobile apps could be added back to domestic app stores and the move would allow Didi undertake a new share listing in Hong Kong.
Read the Full Story here: Wall Street Journal.
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