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Chinese regulators suggest Hong Kong listing for Didi

by Mike Robinson

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© Reuters. FILE PHOTO – The Didi app logo is displayed on the navigation map on Didi’s mobile phone. This illustration was taken on July 1, 2021. REUTERS/Florence Lo/Illustration/File Photograph

(Reuters) – China’s cybersecurity watchdog recommended that ride-hailing company Didi Global Inc, along with two other U.S. listed tech companies, explore listing in Hong Kong. The Wall Street Journal reported Thursday, citing sources familiar with the matter.

China Cyberspace Administration ()The report states that executives from Didi and Full Truck Alliance Co (logistics platform) as well as Kanzhun Ltd (online recruitment company), discussed this idea during recent discussions.

CAC began investigating three of the companies that went public in June. The investigation was part of a wider crackdown against mainland technology firms amid tightened data security regulations.

Full Truck is currently exploring Hong Kong for an offer and listing might happen next year, according to the WSJ.

Reuters reached out to Kanzhun, Full Truck, Didi and Full Truck but they did not respond immediately.

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