Islam News – China’s government ordered the country’s leading ride-hailing platform, Didi, removed from app stores for “serious” problems related to the collection and use of customer data.
The country’s internet regulator, the Cyberspace Administration of China, did not explain what problems it had found. It was the latest blow for Didi, which went public on the New York Stock Exchange last week. The administration had issued another surprise announcement on Friday, saying that new user sign-ups would be suspended until the authorities conducted a review.
That announcement sent the company’s share price falling by 5 percent on Friday. The two moves in quick succession, coming so soon after the company raised billions of dollars in its Wall Street debut, suggest an intensifying effort by Beijing to rein in Didi.
Regulators also moved against other companies that had recently been listed on Wall Street, sending a message that Beijing is still in charge. The Chinese government has been turning up the regulatory heat on internet companies, accusing them of competing unfairly against rivals and using consumers’ data to extract greater profits.
Source: The New York Times