Recently, several Chinese companies had been able to look forward to the IPO in the USA, but now they have been targeted by the authorities in their home country. It should be about data security.
After the Chinese driver service broker Didi Chuxing, three other online platforms that have recently been listed on the US stock exchange have come under the focus of the Chinese authorities.
As the cyber supervisory authority announced in Beijing on Monday, investigations into the handling of the data collected were ongoing. It was about risks for the protection of data and public interests as well as for national security, it was said, similar to Didi.
The truck brokers Yunmanman and Huochebang of the Full Truck Alliance Co. and the recruitment agency Boss Zhipin are affected. Like Didi, the three companies are no longer allowed to accept new customers. The supervisory authorities in Beijing have recently taken action against a number of Chinese Internet companies and announced stricter rules for them.
Chinese AppStores were instructed on Sunday not to offer any more software from Didi. “Serious violations” in the handling of personal data were found. Didi announced that he is working on correcting his app according to the requirements. Existing users, including 377 million in China alone, can continue to use the service normally.
The shares of the Uber rival, which also operates in 16 other countries including Australia, Brazil, Mexico and Russia, fell more than five percent on Friday after the investigation became known. When Didi’s stock market debut on Wednesday, Didi’s shares had risen significantly, at times the company was worth around $ 80 billion. Uber currently has a market capitalization of just under $ 95 billion.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
