Didi suspends mutual aid service as China tightens fintech regulations

Didi Finance, the fintech arm of ride-hailing service provider Didi, shut down its online mutual aid platform Diandi Shouhu on Monday. The termination took place at a time when financial services provided by tech firms face intensified scrutiny by regulators. The mutual aid platform, which is organized based on crowdfunding and assists participants who fall ill with their medical bills, has served over 1 million people since its founding in 2018, but it suspended new user registrations in April. Didi Finance said in a statement that Diandi Shouhu's shutdown is due to a change in business direction. Mutual aid platforms…