Chinese regulators to fine Didi more than $1 billion over data breaches – WSJ

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The penalty could pave the way for Beijing to ease an earlier restriction banning Didi from adding new users to its platform and allow its apps to be restored on domestic app stores, the report said, citing people familiar with the matter.

After the fine, Didi could also kick-start a new share listing in Hong Kong, the report said.

The ride-hailing firm did not immediately respond to a Reuters request for comment.

Didi has struggled to bring its business back to normal after angering Chinese regulators by pushing ahead with its $4.4 billion New York listing in June last year despite being asked to put the float on hold.

Days after Didi went public, China’s powerful internet watchdog, the Cyberspace Administration of China, launched a cybersecurity probe into the company’s data practices and ordered app stores to remove 25 mobile apps operated by Didi.