![]() ![]() ![]() ![]() So how did we get here? Below is a look back at the bumpy road that Didi has traveled over the past 12 months. On Thursday, the country’s internet watchdog issued unusually harsh criticism, calling Didi’s breach of data privacy and national security rules “a serious offense with negative influences.” The company said later that day that it will continue carrying out a comprehensive rectification of its operations, without giving a timeframe.Īlthough the fine itself won’t hurt too much in Didi’s finances, the probe is undoubtedly another landmark case for the Chinese tech sector following Beijing’s antitrust crackdown on Alibaba a year ago. While Didi will now be looking to move past the year-long investigation, the Chinese mobility behemoth will have to be much more cautious about how it operates and how it deals with regulators going forward. The RMB 8.02 billion ($1.19 billion) penalty, which was set at 4% of Didi’s 2021 revenues, comes as Chinese policymakers have reportedly been mulling over whether to call an end to their crackdown on the country’s technology sector in the face of the country’s slowing economy. China’s year-long, once seemingly never-ending investigation into Didi finally reached a conclusion on Thursday, with authorities imposing a massive fine equivalent to $1.2 billion on the ride-hailing giant over alleged violations in cybersecurity, data security, and personal information protection. ![]()
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