News Snapshot:
As ride-hailing giant Didi Chuxing faces a regulatory crackdown in China following its US listing on June 30, some investors see opportunities in the government’s fresh efforts to tighten cybersecurity in the country. The Cyberspace Administration of China has ordered the removal of Didi from app stores, accusing it of illegally collecting users’ personal data. Regulators have also opened a cybersecurity review of the company. China’s cybersecurity sector is underdeveloped. As of 2020, it had a market size of about 74.9 billion yuan (US$11.6 billion), according to the China Centre for Information Industry Development (CCID), a government-backed think tank. On...
