Beijing asks ride-hailing giant Didi to delist from US: report

Ride-hailing giant Didi has been asked to draw up a plan to delist from the United States over data concernsBEIJING - Regulators in China have asked ride-hailing giant Didi to draw up a plan to delist from the United States over data concerns, a report said Friday, as Beijing continues its tight scrutiny of domestic tech giants.

A mammoth New York debut in June for Didi Chuxing was quickly overshadowed by an investigation by the Chinese cyber watchdog on the grounds of cybersecurity, launched just days after the listing. The move is a further blow to Didi, which raised $4.4 billion in its New York IPO -- making it the largest US IPO by a Chinese firm since Alibaba in 2014.

Founded in 2012 by Cheng Wei -- a former executive at Chinese e-commerce giant Alibaba -- Didi has dominated the local ride-hailing market since it won a costly turf war against US titan Uber in 2016.

This is BS!! China must start paying for the damage they caused to our economy!! COVID19 SouthAfrica

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