of China announced. A statement said the
company was told to “rectify problems” but
gave no details.
Didi said it would “strictly comply” but gave no
details. A statement on its social media account
said customers who downloaded the Didi app
before the order can keep using it normally.
Didi shares fell 5.3% after the Cyberspace
Administration of China announced an
investigation. The agency said Didi was barred
from accepting new customers until the
investigation was completed.
Didi raised $4 billion from investors in its New
York stock offering.
The company was founded in 2012 as a taxi-
hailing app and has expanded into other ride-
hailing options including private cars and buses.
It says it also is investing in electric cars, artificial
intelligence and other technology development.
The ruling party began tightening control
over China’s fast-changing internet
industries last year, launching anti-monopoly
and other investigations.
Chinese leaders are concerned about the
influence of e-commerce, social media and
other companies that pervade the lives of
China’s public. Most are privately operated.
In April, Alibaba Group, the world’s biggest
e-commerce platform, was fined $2.8 billion on
charges of violating anti-monopoly rules. Other
companies have been penalized on charges
they violated rules on privacy, censorship and
disclosure of acquisitions.