Beijing’s major takeover casts doubt on tech giants


STORY – China wants to make an example of Didi, the local Uber, who got listed on Wall Street without permission.

Beijing

Beijing whistles the end of the American recess. Since the champion of mobility, Didi Chuxing, entered Wall Street without having obtained the green light from the internet regulator, the Chinese government has deployed its legislative arsenal to reframe its tech giants. This takeover contrasts with the laxity of the authorities until then, which has enabled these innovative companies to experience exponential growth in a few years.

Forty-eight hours after raising $ 4.4 billion in the United States on June 30, the “Chinese Uber” is under investigation by the National Cyberspace Administration (CAC), for “serious violation of the regulations regarding the collection of user data ”. This, in the name of the “National security”.

Didi’s mistake? To ignore the recommendations of the regulator to delay its IPO until the latter had not carried out an in-depth review of the security of its data. Pressed by his

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