HomeTech NewsDidi Denies Reviews That China Is Coordinating Firms to Put money into...

Didi Denies Reviews That China Is Coordinating Firms to Put money into It


China’s trip hailing big Didi International mentioned on Saturday that media stories that the Beijing metropolis authorities is coordinating corporations to spend money on it are usually not appropriate.

Didi is at the moment actively and totally cooperating with cybersecurity probe, international media stories that Beijing metropolis authorities is coordinating corporations to spend money on it are incorrect,” it mentioned on Weibo.

Bloomberg Information reported on Friday, citing unidentified folks acquainted with the matter, that China’s capital metropolis was contemplating taking Didi below state management and had proposed that government-run companies spend money on it.

Underneath the preliminary proposal, some Beijing-based corporations together with Shouqi Group, a part of the state-owned Beijing Tourism Group, would purchase a stake in Didi, Bloomberg reported.

Beijing-based Didi faces a cybersecurity investigation by Chinese language authorities after its New York preliminary public providing in June. Chinese language authorities have stepped up their regulation of expertise companies previously yr to enhance market competitors, information dealing with and their therapy of staff.

Didi is managed by the administration staff of co-founder Will Cheng and President Jean Liu. SoftBank Group, Uber Applied sciences, and Alibaba are amongst buyers within the firm.

© Thomson Reuters 2021


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