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China’s Cyber Security Review Office on Friday initiated an investigation into the country’s ride-hailing giant DiDi Chuxing on national data security, national security and public interest concerns. New user registration applications will not be accepted until the review comes to an end to avert further risks, the office said.
The cybersecurity review can be wrapped up within 45 working days under normal conditions, or be extended by 15 working days when it comes to sophisticated scenarios. It may take another 45 working days or longer to conduct an examination on projects entering the special review process.
Didi said it would cooperate with government organs, conduct an all-around examination of cybersecurity risks and continue to improve its network security system and technical capabilities. Didi Global will be added to S&P Dow Jones’ global equity indexes on July 12 following the U.S. stock market debut of the Chinese ride-hailing company this week.
The shares of the Beijing-based company jumped nearly 16 percent on Thursday, a day after its debut, the biggest U.S. listing by a Chinese company since 2014. But the company’s shares lost roughly 10 percent of its value in Friday’s pre-market trading.