China Targets Didi Chuxing, Others Shortly After U.S. Listings, Halts User Registrations on Multiple Platforms
Beijing is out to show its own upstarts (umm, startups) who the real boss is. After stifling entrepreneur Jack Ma’s Ant Financial, the Chinese government is now flexing its regulatory muscles against Didi Chuxing, the country’s – and the world’s – largest ride-sharing entity and the company that practically pushed Uber out of China. The authorities are also putting the brakes on new registrations for three other platforms.