Chinese regulator fines Didi over $1 billion for data security breach
SINGAPORE—Chinese authorities set to fine ride-sharing company over $1 billion Didi Global ending a year-long investigation into the company’s cybersecurity practices, according to people familiar with the matter.
Once the sanction is unveiled, the government plans to ease a restriction prohibiting Didi from adding new users to its platform and allow the Beijing-based tech company’s mobile apps to be restored to app stores. nationals, some people said. The fine will also pave the way for Didi, whose app is used by tens of millions of users in China every month, to launch a new stock listing in Hong Kong, the people said.