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Didi Chuxing went to the US to go public on the eve of the Chinese Communist Party’s 100th Anniversary and raised US$4.4 billion. I don’t know if Didi’s move provokes Xi Jinping’s thunderous anger: The China Cyberspace Administration of China, the Ministry of Public Security, the Ministry of National Security, and the State Administration of Taxation are sent to Didi’s headquarters to investigate.
The official website of the Cyberspace Administration of China issued a brief announcement on July 16, announcing: “The relevant responsible comrades of the Cybersecurity Review Office stated that in accordance with the arrangements for cybersecurity review, on July 16, the Cyberspace Administration of China, together with the Ministry of Public Security, the Ministry of National Security, The Ministry of Natural Resources, the Ministry of Transport, the State Administration of Taxation, the State Administration of Market Supervision and other departments jointly stationed in Didi Chuxing Technology Co., Ltd. to conduct cyber security reviews.”
Didi Chuxing, which is similar to the U.S. “Uber” car-hailing system, has a dominant position in China’s online car-hailing (VTC) booking market. Since the beginning of this month, it has been under investigations related to the collection of private data.
According to the order of the Chinese authorities, the Didi app can no longer be downloaded, but this measure has no effect on Didi users who have already installed the app on their mobile phones.
These setbacks all occurred after Didi went public on the New York Stock Exchange at the end of June and raised $4.4 billion (3.7 billion euros).
As of today, July 16, Beijing’s tone on Didi has become tougher. In a joint statement, the market and cyberspace regulators, together with five ministries, announced that they are sending people to Didi’s headquarters to review issues surrounding personal data. Security Question.
Agence France-Presse noticed that the Ministry of Public Security of China was also on the list of participating in the investigation of Didi, and pointed out that it is relatively unusual for a technology giant to be the subject of an investigation involving so many ministries and agencies.
For a long time, Beijing has encouraged its companies to go global. And many of these companies are raising funds in the United States to expand.
But in the context of increasingly fierce competition with Washington, especially in the field of technology, the Chinese government is now worried that the key data accumulated by its digital giants will be leaked abroad. So Beijing hopes to tighten the conditions for its companies to list abroad, requiring them to be impeccable in terms of cyber security.
In China, Internet-related companies are particularly dynamic. The reason is that China’s relatively loose data legislation and the absence of foreign competitors have allowed the emergence of local giants. However, in recent months, the Chinese government’s attitude has become tougher, and it has filed lawsuits against many companies, demanding that they “correct” previously tolerated practices.
Last Friday, the Chinese cyberspace administration ordered the removal of 25 APP applications belonging to Didi from the download platform because they “seriously violated” data protection.
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