China’s Big Tech crackdown has opened a new front: national security ...Middle East

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China’s Big Tech crackdown has opened a new front: national security
In the span of just a week, Chinese ride-hailing giant Didi Chuxing, went from being a tech darling with a successful US listing to the face of a new dimension to Beijing’s crackdown on its tech firms.After the last-minute cancellation of fintech giant Ant’s IPO last year, many investors, including SoftBank and Uber, may have been holding their breath in the run-up to Didi’s US debut on June 30. But the IPO seemingly went off without a hitch—Didi priced its shares at the top range and raised $4.4 billion. A day later, its shares rose and it hit a value of $80 billion. The day after that, the Cyberspace Administration of China opened a cybersecurity investigation into Didi, citing “risks rela

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