China ride-hailing giant Didi sees losses deepen after crackdown | BBC News


Chinese ride-hailing giant Didi Chuxing has seen its losses deepen after Beijing ordered online stores not to offer the company’s app.

The firm reported an operating loss of $6.3bn (£4.7bn) for the first nine months of year as revenues in China fell by 5% in the third quarter.

The Chinese crackdown came just days after Didi made its New York stock market debut at the end of June.

This month, it said it will move its share listing to Hong Kong from the US.

In recent months, Didi has become one of the most high profile targets of Beijing’s clampdown on the country’s technology industry.

Read More

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s