Days after ride-hailing giant- Didi Chuxing’s US$ 4.4 billion listing, China opened a cybersecurity probe into the company, which later culminated in Didi’s app and 25 other apps linked to it being removed from the app stores. Didi’s shares were down by 20% on Friday after reports surfaced that the Chinese government was contemplating “serious, perhaps unprecedented, penalties” for the company. In the past few months, China has gone full throttle, cracking down on domestic tech giants.

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