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How Chinese Ride-Hailing Giant Didi Ran Into a Storm: QuickTake

July 7, 2021, 2:48 AM

Just days after Didi Global Inc., China’s version of Uber, pulled off a $4.4 billion initial public offering in New York, the Chinese cyberspace regulator effectively ordered it removed from app stores in its home market, citing security risks. The ruling doesn’t stop the company from operating -– its half-billion or so existing users will still be able to order rides for now. Still its shares fell in New York below its IPO price on July 6 as China said it’s increasing supervision and revising rules for overseas listings of Chinese companies -- just the latest example of ...