Home Business Didi’s announcement of its delisting from the US stock market marks the end of “Chinese Internet companies’ barbaric growth period”-BBC News

Didi’s announcement of its delisting from the US stock market marks the end of “Chinese Internet companies’ barbaric growth period”-BBC News

by admin

Image source,Getty Images

This Friday (December 3), Chinese online ride-hailing giant Didi Chuxing announced that it will delist from the United States and will be listed on the Hong Kong Stock Exchange.

After the news was announced, the share price of Didi’s major shareholder SoftBank Group fell more than 2%; Chinese concept stocks and Hong Kong stocks also fell sharply, Alibaba fell 5.4% and hit a new low for listing, and Bilibili fell more than 7%.

Didi Chuxing went public in the U.S. at the end of June this year. After 48 hours of listing, Chinese regulators announced the implementation of a cyber security review. Since then, the Chinese government’s supervision of Didi has continued to increase, until it finally announced the end of its more than five months of listing in the United States.

Didi is the epitome of the entire group of Chinese concept stock companies. Under the influence of a series of policies such as “anti-monopoly”, “enhanced data security”, and “double reduction”, the performance of Chinese concept stocks listed in the United States has continued to decline. In addition, the US Securities Regulatory Commission has also put forward more and more restrictions on Chinese concept stocks, and the future of Chinese concept stock companies is full of uncertainties.

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