China To End Ban On New Customers For Ride-Hailing Giant Didi, Two US Tech Firms - Reports

China is preparing to lift a ban on new users for its ride-hailing giant Didi Global Inc and two local US-owned technology companies by as early as this week in a sign that it is trying to spur economic activity, The Wall Street Journal reported on Monday

WASHINGTON (UrduPoint News / Sputnik - 06th June, 2022) China is preparing to lift a ban on new users for its ride-hailing giant Didi Global Inc and two local US-owned technology companies by as early as this week in a sign that it is trying to spur economic activity, The Wall Street Journal reported on Monday.

The three services were barred from taking on new customers for their applications when Chinese authorities opened a data-security probe last July, accusing them of collecting personal data illegally and citing national security concerns.

The companies have said they would fully cooperate with the review.

Didi and the two US-owned technology companies, Full Truck Alliance Co. and online recruitment firm Kanzhun Ltd, became publicly-traded firms only in June last year, or a month prior to the probe, raising a total of $7 billion in initial public offering.

Chinese authorities are expected to announce a conclusion of the probe and, possibly, some financial penalties on the three companies, the Journal added.