On Friday (16th), the Chinese authorities once again took action against Didi. China's State Cyberspace Administration of China, together with the Ministry of Public Security and the Ministry of National Security, jointly stationed in Didi Chuxing today to conduct cybersecurity reviews.
Affected by this news, Didi ADR (DIDI-US) opened turbulently after hearing the news on Friday. It fell in a slippery way. It fell 3.16% in the end to US$11.97 per share, which was lower than the IPO price of US$14.
On Friday, the Chinese media reported that in accordance with the arrangement of the cybersecurity review work, the State Cyberspace Administration of China, together with the Ministry of Public Security, the Ministry of National Security, the Ministry of Natural Resources, the Ministry of Transport, the State Administration of Taxation, and the State Administration of Market Supervision, jointly entered Didi Chuxing Technology. Co., Ltd., launched a cyber security review.
As soon as Didi Chuxing went public for an IPO in the United States on June 29, the Chinese government took the Didi App off the shelf on the grounds of information security issues.
On the 9th of this month, the State Internet Information Office of China (State Cyberspace Administration of China) removed 25 applications (Apps) including "Didi Enterprise Edition" in accordance with the relevant provisions of the "Network Security Law of the People's Republic of China". According to the report and verification, These apps have serious violations of laws and regulations to collect and use personal information.