Didi Global falls as China orders 25 of its apps to be removed from app stores

Tiger Newspress2021-07-09
  • Didi Global(NYSE:DIDI)pared earlier gain and is now down 0.6% after China's cyberspace administration said it called for the removal of 25 DIDI related apps from the app store.
  • The 25 apps appear to have serious violations of laws and regulation in connecting and using personal information, according to aChina regulatory website(Google translated).
  • No website or platform shall provide access and download services for the 25 apps that have been removed from the app store, such as “Didi Travel” and “Didi Enterprise Edition."
  • Earlier this week, the Chinese Cyberspace Administrationordered app stores to block downloadsof DiDi, Full Truck Alliance(NYSE:YMM)and Kaznhun Ltd.(NASDAQ:BZ)software due to alleged problems with security of customers’personal information.
  • Yesterday, DiDi Global, Full Truck Alliance and Kanzhun’s stocks fall again as China crackdown grows.
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