Didi Chuxing Undergoes Cybersecurity Review Two Days after Its US IPO
Recently-listed ride-hailing app, Didi Chuxing, has now found itself the subject of a national security and public interest investigation by China’s cybersecurity watchdog.
New users will not be able to register for Didi’s ride hailing service during the country’s cybersecurity review.
Didi said in a statement it would conduct a comprehensive examination of cybersecurity risks and will fully cooperate with the review process.
The review comes just two days after Beijing-based Didi held its IPO on the New York Stock Exchange.
SEE ALSO: Chinese Ride-hailing Giant Didi Chuxing Goes Public on New York Stock Exchange
China’s announcement also reflects a broader trend of the government’s regulatory crackdown on such technology giants as Alibaba, Tencent, Meituan.
China’s markets regulator first began an antitrust probe into Didi Chuxing in June, The Economic Times reported.
The ride-hailing company has addressed its carpooling commission rate policies and released information about wage compensations in June amid public concerns about the gap between the sum of passenger payments and drivers’ earnings.