Home News China Focus

China to fine Didi Global at least US$1 bil before wrapping up probe

Bloomberg
Bloomberg7/20/2022 09:23 AM GMT+08  • 1 min read
China to fine Didi Global at least US$1 bil before wrapping up probe
Didi is one of the companies at the heart of a bruising clampdown on the internet industry that Beijing initiated in 2020. Photo: Bloomberg
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

China is expected to fine Didi Global Inc. more than US$1 billion ($1.39 billion) before wrapping up a year-long probe into the ride-hailing giant, the Wall Street Journal reported, citing people familiar with the issue as saying.

Beijing will then allow the Chinese company to restore its main apps to mobile stores and again add new users to its platform, the Journal said. Didi can also work toward a listing in Hong Kong, it said.

Representatives for the Cyberspace Administration of China and Didi didn’t reply to the Journal’s requests for comment.

Didi is one of the companies at the heart of a bruising clampdown on the internet industry that Beijing initiated in 2020. Investors have been awaiting the penalties for Didi since the CAC launched a probe in 2021 into potential violations of data security.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.