Monday, August 2

Didi cybersecurity review

China Crackdown, China education stocks, China education tech sector, China regulators, China Stocks, China tutoring stocks, Didi cybersecurity review, Didi stock price, Markets, MI Exclusive

Chinese education stocks plunge as Beijing reportedly wants to turn tutoring companies into non-profits

Primary school students attend a class in Beijing. Cui Jun/Beijing Youth Daily/VCG via Getty Images Shares of Chinese tutoring companies crashing Friday after Bloomberg reported that Beijing is targeting the sector. China is considering asking education tech companies in the $100 billion sector to turn into non-profits. Shares of Tal Education Group and Gaotu Education were among those being hammered in the US market. See more stories on Insider's business page. Shares of Chinese education companies sank Friday, losing more than half their value following a Bloomberg report that China may ask companies that offer school curriculum tutoring to become non-profits, a move that could severely damage the country's $100 billion education technology industry. Beijing is considering r...
China cybersecurity review, China police, Didi, Didi Chuxing, Didi cybersecurity review, Didi stock price, Markets, MI Exclusive, Ride-hailing services

Didi falls as Chinese officials send police to offices as part of sweeping cybersecurity probe

A receptionist looks up from an office for drivers of Didi in Beijing. AP Photo/Ng Han Guan Didi shares dropped Friday after police and other regulators went to the ride-hailing app operator's offices in Beijing. The Chinese government sent a task force of seven units including the internet regulator for the on-site visit as part of a cybersecurity review. Didi shares have slumped in the wake of the review, which was first launched earlier this month. See more stories on Insider's business page. Shares of Didi dropped Friday after reports that police in China went to the offices of the ride-hailing company as part of a cybersecurity review that was launched just after Didi raised $4.4 billion in an initial public offering in New York. A task force of seven ministries including...
BZ stock price, China cybersecurity review, China Cybersecurity Review Office, Chinese IPO, Chinese tech stocks, Cyberspace Administration of China, Didi cybersecurity review, Didi stock price, full truck alliance, Kanzhun, Markets, MI Exclusive, YMM stock price

China expands security review beyond Didi, sending shares of 2 US-listed Chinese tech companies plunging

Didi's app has been ordered for removal from Chinese platforms. Xin Yue/Huanqiu.com/VCG via Getty Images Shares of two Chinese tech companies-Full Truck Alliance and Kanzhun-sank Tuesday following the launch of regulatory review in China. China's cybersecurity regulator said the reviews are aimed at curbing national security risks. Didi shares plunged after China ordered the ride-hailing app removed from stores. See more stories on Insider's business page. Shares of two Chinese tech companies listed in the US dropped sharply Tuesday after a Chinese regulator put them under a security review days after the country launched a similar action against ride-hailing service Didi. China's Cybersecurity Review Office will review two truck-hailing apps run by Full Truck Alliance and an ...