Didi suspends UK launch plans amid China crackdown on tech companies – Telegraph

August 23 (Reuters) – Chinese giant Didi Global Inc (DIDI.N) has suspended its launch plans in Britain and mainland Europe, The Telegraph reported on Monday in the context of a regulatory backlash at home on data privacy.

According to the report, staff working on the planned launches were informed that they were facing possible redundancy and that Didi had stopped hiring in Britain and withdrew the launch plans for at least a year. (https://bit.ly/2WaN29Z)

“We continue to explore additional new markets, keeping in touch with each other’s relevant stakeholders and thinking about when to introduce our services,” a Didi spokesman said, not to mention the UK’s launch plans.

“As soon as we have more news on new additional markets, we look forward to sharing them.”

Chinese companies have been caught up in increased US scrutiny on the one hand and national regulatory repression against the country’s massive internet sector.

The move has sparked technology giants in the country and Didi is in the process of reviewing cybersecurity as China reforms its privacy and data security policy to ensure secure storage of user data. Read more

Didi, which traded in New York in June after raising $ 4.4 billion in a first public offering, wants to expand its international business with recent launches in South Africa, Ecuador and Kazakhstan.

Report by Eva Mathews in Bengaluru; Edited by Anil D’Silva and Devika Syamnath

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