Published on 23 Jul 2022 on Reuters via Yahoo Finance
China fines Didi $1.2 billion but outlook clouded by app relaunch uncertainty
By Julie Zhu, Yingzhi Yang and Kane Wu
HONG KONG/BEIJING (Reuters) -China's cybersecurity regulator on Thursday fined Didi Global Inc $1.2 billion, concluding a probe that forced the ride-hailing leader to delist from New York within a year of its debut and made foreign investors wary about China's tech sector.
The penalty draws a line under the company's year-old regulatory woes, but there is no clarity as to whether or when its apps will be allowed to return to app stores, or whether or when it can resume new user registrations.