After a 563-day ban, ride-hailing giant Didi was allowed to resume new user registrations. Today, Didi said through a statement that it will take effective measures to ensure platform security and data security and maintain the security of national cyberspace.
Since regulatory issues arose in mid-2021, new user registrations and downloads of Didi's 25 apps have been banned in China, and "unblocking" is a key step for Didi to resume normal business.
The following are the main events since Didi publicly announced its listing in the United States:
June 11, 2021 – Didi Chuxing filed an IPO prospectus, disclosing its application process for listing in the United States.
June 30, 2021 - In just 20 days, without ringing the bell, Didi was officially listed on the US stock market. The IPO price was set at US$14/ADS, raising US$4.4 billion.
July 2, 2021 – The Cybersecurity Review Office conducted a cybersecurity review of Didi Chuxing, not allowing Didi to register new users during the investigation, and Didi responded that it would actively cooperate with the cybersecurity review.
July 4, 2021 – After testing and verifying that the "Didi Chuxing" app had serious illegal collection and use of personal information, the Cyberspace Administration of China ordered domestic app stores to remove the "Didi Chuxing" app. Didi said that it will be removed from the shelves for rectification in strict accordance with the requirements of relevant departments.
July 9, 2021 – The Cyberspace Administration of China (CAC) notified app stores to remove 25 apps, including Didi Enterprise Edition.
July 16, 2021 – The Cyberspace Administration of China, together with seven departments, including the Ministry of Public Security, the Ministry of State Security, the Ministry of Natural Resources, the Ministry of Transport, the State Administration of Taxation, and the State Administration for Market Regulation, jointly entered Didi to conduct a cybersecurity review.
September 8, 2021 – China's Ministry of Transport says it will crack down on illegal practices in China's ride-hailing industry.
October 29, 2021 – The Office of Cybersecurity Review has issued draft regulations requiring companies with more than 1 million users in China to conduct security reviews before sending user-related data abroad.
December 3, 2021 – Didi announced plans to delist from U.S. stocks and plans to list in Hong Kong.
May 23, 2022 – Didi held a general meeting of shareholders, and the final shareholder vote showed that it approved Didi's delisting from the New York Stock Exchange (NYSE).
June 10, 2022 – Didi was officially delisted from the New York Stock Exchange.
July 21, 2022 – The Cyberspace Administration of China announced a fine of 8.026 billion yuan against Didi. Punishment provisions for Cheng Wei and Liu Qing to be fined RMB 1 million each.
According to foreign media reports, one of the reasons Didi was allowed to resume registration this time is that China is seeking to restore confidence in the private sector and hopes that the technology industry will help stimulate economic activity affected by the epidemic.
After the practice investigation of Weiping, it has not been found that apps such as "Didi Chuxing" have resumed online in iTunes, Xiaomi App Store, App Bao, Baidu Mobile Assistant and other app stores.
During the period when Didi was banned, platforms such as Amap, Meituan and other platforms also increased their layout and efforts in the taxi business; More and more Didi ride-hailing owners are also on the Internet, expressing their dissatisfaction with Didi's policies such as dispatch and distribution, and public opinion continues. Faced with multiple pressures from competitors, car owners and users, Didi wants to grab back the lost "cake", and then needs to work hard.