Didi Global, the Chinese ride-hailing company, has been fined 8.026 billion yuan ($1.19 billion) over breaches of cybersecurity regulations in a widely expected punishment.
The announcement on Thursday by the Cyberspace Administration of China followed a year-long investigation into Didi’s collection and use of its customer data.
Cheng Wei, chairman and chief executive, and Jean Liu, president, were each fined 1 million yuan.
The Cyberspace Administration of China (CAC) started its inquiry shortly after the company listed in New York on June 30, 2021.
The regulator had urged the company to put the US initial public offering on hold pending a cybersecurity review of its data practices.
Didi Global was eventually forced to delist from the New York stock exchange.
The regulator said in its statement that the “facts of the violation are clear, evidence is conclusive, circumstances are serious, and the nature is bad”.
- Reuters, with additional editing by George Russell
READ MORE:
Didi Seen in Talks For Stake in China EV Maker Sinomach
Didi Slashes UK Staff, Delays EU Rollout Until 2025 – Guardian
Didi Global Shuts Down Food Deliveries in Japan – Nikkei
