Central internet regulator, the Cyberspace Administration of China CAC announced on Sunday its instruction for the removal of popular taxi hailing platform, DiDi Chuxing, from the country's online app stores, due to cybersecurity concerns.
Citing 'serious violations of laws and regulations collecting and using personal information', the announcement came just days after the platform listed on the New York Stock Exchange NYSE at $14 per share on 30 June.
With a final transaction value of $4.44 billion, DiDi Global's IPO was the third largest by a Chinese company on the US public markets since Alibaba's $25 billion debut in 2014 and China Unicom's...
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