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Didi, Lenovo founders go private on China social media, join retreat from spotlight -Breaking

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© Reuters. FILE PHOTO: An indication of Chinese language ride-hailing service Didi is seen on its headquarters in Beijing, China July 5, 2021. REUTERS/Tingshu Wang

By Josh Ye

HONG KONG (Reuters) – The president of Chinese language ride-hailing big Didi Chuxing and her father, the founding father of Lenovo, have ended their public presence on China’s most important social media web site, the most recent Chinese language tech leaders to retreat from the highlight.

Didi’s Jean Liu and her father, Liu Chuanzhi, each switched on a operate on China’s Weibo (NASDAQ:) platform to cover all outdated posts, at a while throughout the just-ended Labour Day vacation. Neither had posted prior to now six months.

The elder Liu, who has 880,000 followers and his daughter, who has 10 million, didn’t give any causes for going personal nevertheless it was seen by Weibo customers who questioned their determination.

Didi and Lenovo didn’t instantly reply to requests for touch upon Thursday.

A number of different Chinese language tech firm founders have equally gone personal on social media, or stopped posting, prior to now two years, together with Alibaba (NYSE:) Group’s Jack Ma, ByteDance’s Zhang Yiming, and Meituan’s Wang Xing.

Such enterprise individuals, particularly Ma, had prior to now been amongst China’s most outspoken residents, buoyed by their entreprenurial success, earlier than a sweeping regulatory crackdown that began in late 2020 introduced China’s once-freewheeling web sector to heel.

Henry Gao, a regulation professor at Singapore Administration College, stated such withdrawls from the general public on-line area mirrored rising restrictions round what may be stated publicly in China, and the more and more tough surroundings dealing with tech companies.

“The period of high-flying outspoken tech leaders is over,” in China, Gao stated.

The scenario in China was “completely completely different from the West, the place the tech leaders not solely are anticipated to talk up, but additionally need to take a line on these tough political points, even when a few of them won’t wish to”, he stated.

Meituan’s Wang, a once-avid person of the Fanfou social media web site he based, noticed shares within the meals supply big hunch final yr after he posted an historical poem that was perceived by some as being crical of the federal government and President Xi Jinping.

Wang has since stopped posting and likewise hid his Weibo posts from public view.

Jean Liu, a former Goldman Sachs (NYSE:) banker, is one in every of China’s best-known enterprise individuals however has come below hearth in current months resulting from controversies over Didi’s $4.4 billion New York itemizing. The corporate, generally dubbed the Uber (NYSE:) of China, has introduced that it’s going to go away the U.S. change.

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