The stock plunge followed a series of actions taken by government agencies in Beijing, where top policymakers went after Chinese companies that, like Didi, list their shares on exchanges overseas
New York Times
July 08, 2021 / 05:55 PM IST
Raymond Zhong and Peter Eavis In the paperwork Didi filed before its initial public offering, the Chinese ride-hailing platform gave no shortage of warnings to investors that regulators in Beijing were hovering. After China’s internet regulator, antitrust watchdog and tax authority summoned it and more than 30 other internet companies for a meeting in April, Didi said, the company examined its operations and “uncovered a number of areas which could be deemed problematic from the compliance perspective.” Even though government officials…