Chinese ride-hailing giant Didi hit with $1.2 bn fine ...Middle East

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BEIJING: China has fined ride-hailing giant Didi more than 8 billion yuan ($1.2 billion), regulators announced Thursday, concluding a year-long investigation into alleged data security violations.Didi has been one of the highest-profile targets of a widespread crackdown on China's tech firms, which saw years of runaway growth and the emergence of supersized monopolies.The clampdown launched in 2021 wiped billions of dollars off the value of Chinese tech companies. Some were targeted over monopolistic behaviour while others -- such as Didi -- for cyber and national security concerns.The probe found “conclusive evidence” that Didi had committed violations of an “egregious nature”, the Cyberspa

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Last updated : 21 July 2022 clock 11:20 AM

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Chinese ride-hailing giant Didi hit with $1.2 bn fine ...Middle East

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