China's probe into Didi seen as part of tighter regulation of tech sector

Investigation yet another indication that days of unfettered growth for country's tech companies are over

Traders on the floor of the New York Stock Exchange during the IPO for Chinese ride-hailing company Didi Global last Wednesday.
Traders on the floor of the New York Stock Exchange during the IPO for Chinese ride-hailing company Didi Global last Wednesday.PHOTO: REUTERS

Just days after a massive initial public offering (IPO) on the New York Stock Exchange, Chinese ride hailing app Didi is facing a cyber-security investigation back home.

China's cyberspace agency announced the probe on Friday evening but did not give details.

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A version of this article appeared in the print edition of The Sunday Times on July 04, 2021, with the headline 'China's probe into Didi seen as part of tighter regulation of tech sector'. Subscribe