Didi’s shares collapsed as Chinese regulators launched a data study

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China’s cyber security officials have launched an investigation into Didi, and sent shares of the group that boarded their third morning sales in New York.
The Cyberspace Administration of China suddenly announced Friday evening, Beijing time, two days after Didi collected at least $ 4bn initial contributions made in public.
Despite earning money, Didi made the event even more important, not celebrating on Weibo television, arranging a press conference, or participating in a bell ringing ceremony in New York.
The CAC said the study was “to protect national security and national security”, and that Didi should register all users of the study period “to comply with the cyber security research and prevent the spread of the virus”.
Didi told the Financial Times that it was “following” the investigation “and highlighting our risks of supervision under supervision”. Its shares opened 11% Friday morning trading in New York.
“This is a sign of the big modern corporations, warning them of the importance of data security and public protection,” said Wang Congwei, a partner at a law firm in Beijing Jingshi.
China’s cyber security protocol is a new strategy launched last year to protect what appears to be “essential infrastructure”, a group that includes providers and major regulators. One of its objectives is to prevent the leak of sensitive information.
According to Chinese law, a typical investigation lasts more than 30 days, adding an additional 15 working days in complex cases.
Didi has more than 377m users and 13m drivers every year in China, meaning it stores a lot of information that could make it seem like a difficult tool for Chinese retailers.
The platform not only collects information on tours and operational sites but, following the safety impacts of riders in 2018, too they record audio on each trip.
The company did not face any major publicity issues. Following the assassination of airlines in 2018, Didi has been criticized by police and traffic officers for not sharing information, highlighting the ongoing tensions between Chinese government departments between the need for data sharing and the need for greater security.
Along with his climbing friends, Didi was invited market managers in May is being told to address the cost of drivers and price fluctuations consistently.
Additional reports of Nian Liu
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