{"id":334776,"date":"2021-09-03T21:33:34","date_gmt":"2021-09-03T18:33:34","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/china-looking-to-take-ride-hailing-giant-didi-under-state-control-amid-tech-crackdown\/"},"modified":"2021-09-03T21:33:34","modified_gmt":"2021-09-03T18:33:34","slug":"china-looking-to-take-ride-hailing-giant-didi-under-state-control-amid-tech-crackdown","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/china-looking-to-take-ride-hailing-giant-didi-under-state-control-amid-tech-crackdown\/","title":{"rendered":"#China looking to take ride-hailing giant Didi under state control amid tech crackdown"},"content":{"rendered":"<p>&#8220;<strong>#China looking to take ride-hailing giant Didi under state control amid tech crackdown<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>China\u2019s government is reportedly looking to take control of ride-hailing giant Didi, the latest development in a broader crackdown that has kept Chinese tech companies and investors on their toes for months.<\/p>\n<p>Under plans being considered by China\u2019s government, a subsidiary of Beijing\u2019s city government could take a stake in Didi \u2014 the world\u2019s largest ride-hailing company \u2014 that includes a \u201cgolden share\u201d with a board seat and veto power, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-09-03\/beijing-s-city-government-seeks-to-take-didi-under-state-control?srnd=technology-vp\">Bloomberg reported<\/a> on Friday.\u00a0<\/p>\n<p>Investors reacted positively to the report, sending Didi\u2019s New York-traded shares up 7.5 percent to $9.54 early Friday. They then fell back to somewhat to $9.08 later in the morning, up 3.35 percent from the previous day, according to MarketWatch data.\u00a0<\/p>\n<p>Didi\u2019s shares are still down about 36 percent since the company first went public in the US in June. Significant shareholders in the company include SoftBank and Uber.\u00a0<\/p>\n<p>Didi did not im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely reply to a request for comment from The Post.\u00a0<\/p>\n<p>The company \u2014 which has nearly 600 million users and\u00a0bought out Uber\u2019s unprofitable China operation in 2016\u00a0\u2014 is one of many Chinese tech firms to attract the wrath of Chinese government regulators this year.\u00a0<\/p>\n<p>Just two days after Didi\u2019s $4.4 billion debut on the New York Stock Exchange, Chinese regulators first said they were <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/didi-cybersecurity-probe-blindsides-shareholders-days-after-debut-2021-07-05\/\">investigating<\/a> the company.\u00a0<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/CHINA-DIDI-03.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"A trader in front of the Didi logo\" class=\"wp-image-19339582\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/CHINA-DIDI-03.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/CHINA-DIDI-03.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/CHINA-DIDI-03.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Didi\u2019s shares are still down about 36 percent since the company first went public in the US in June.<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>Days later, the country\u2019s cybersecurity regulator accused the company of improperly using customer data and said it would remove the company\u2019s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>s from app stores, essentially destroying Didi\u2019s ability to take on new customers.\u00a0<\/p>\n<p>China\u2019s government has also turned its attention to many the country\u2019s other tech giants, including Alibaba and Tencent.\u00a0<\/p>\n<p>In late 2020, China\u00a0suspended a planned $37 billion IPO\u00a0by e-commerce giant and Alibaba affiliate Ant Group, shocking investors.\u00a0<\/p>\n<p>Shortly afterward, Chinese regulators said they were conducting an antitrust probe of the company and Alibaba founder Jack Ma\u00a0went into hiding for months.\u00a0<\/p>\n<figure class=\"wp-block-image size-large is-style-default\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/CHINA-DIDI-01.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Didi logo\" class=\"wp-image-19339591\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/CHINA-DIDI-01.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/CHINA-DIDI-01.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/CHINA-DIDI-01.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Investors reacted positively to the report, sending Didi\u2019s New York-traded shares up 7.5 percent to $9.54 early Friday.<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>On Thursday, Alibaba <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/chinas-alibaba-invest-155-bln-towards-common-prosperity-2021-09-02\/\">agreed to donate a whopping $15.5 billion<\/a> to various charitable causes in support Chinese President Xi Jinping\u2019s push for \u201ccommon prosperity. The represents more than a third of Alibaba\u2019s $45.2 billion cash pile, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.barrons.com\/articles\/alibaba-donates-a-third-of-its-cash-to-chinese-initiatives-the-stock-is-falling-51630668632\">according to Barron\u2019s<\/a> \u2014 and adds to a list of entanglements with Beijing that have sent Alibaba stock tanking nearly 40 percent over the past year.\u00a0<\/p>\n<p>Chinese video gaming companies like Tencent have also recently faced the wrath of the country\u2019s regulators.<\/p>\n<p>On Monday, the Chinese government told video <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> companies they would be required to ban minors from playing online games for more than three hours per week \u2014 and prohibit the practice altogether during school days.<\/p>\n<p>The move came less than one month after Chinese state media\u00a0slammed online games as \u201cspiritual opium\u201d\u00a0threatening to \u201cdestroy a generation,\u201d sending shares of game-makers plummeting.\u00a0\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/09\/03\/china-looking-to-take-ride-hailing-giant-didi-under-state-control-amid-tech-crackdown\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#China looking to take ride-hailing giant Didi under state control amid tech crackdown&#8221; China\u2019s government is reportedly looking to take control of ride-hailing giant Didi, the latest development in a broader crackdown that has kept Chinese tech companies and investors on their toes for months. Under plans being considered by China\u2019s government, a subsidiary of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":334777,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/09\/CHINA-DIDI-02.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[115360,76916,76917,74124,1450],"class_list":["post-334776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-9-3-21","tag-lyft","tag-ridesharing","tag-softbank","tag-uber"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/334776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=334776"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/334776\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/334777"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=334776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=334776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=334776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}