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The Wall Street Journal broke the news that China will complete its cybersecurity investigation into Didi and will lift the ban on new users of the company’s app. The Chinese government is preparing to allow the Didi app to re-enter domestic app stores, with a decision to be announced as soon as this week, according to people familiar with the matter.
Chinese regulators are reportedly planning to end a year-long investigation into Didi and two other U.S.-listed tech companies, and to release Didi Chuxing, Didi Freight Drivers, Didi Drivers and Didi Drivers as soon as this week. The normal launch of APPs such as Didi Shunfengche.
As early as July 2021, “Netcom China” announced late at night that due to serious violations of laws and regulations for the collection and use of personal information, after “Didi Chuxing” was removed from the entire network, another 25 apps under Didi were also listed by the National Netcom. Office requested to be removed. If the apps are back on the shelves this week, it means the year-long investigation will officially end.
Investigators conducted a month-long on-the-spot investigation into the companies’ internal records, emails and internal communications, but authorities found no material problems with the companies, the people said.
In May, Didi said shareholders had approved a plan to delist the company from the U.S. and sought a Hong Kong listing. Didi has said that in order to better cooperate with the cybersecurity review and rectification measures, the company’s shares will not be listed on any other stock exchanges until the delisting is completed.
Didi recently announced that the company had formally submitted Form 25 to the U.S. Securities and Exchange Commission (SEC) on June 2, and applied for a formal delisting from the New York Stock Exchange 10 days later.
The news also said that Manbang is also advancing its plan to list in Hong Kong, with the goal of completing the listing in Hong Kong by the end of the year.
Source: The Wall Street Journal
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