BREAKING: City of Beijing has taken control of DiDi

didi chuxing

Chinese ride-hailing giant, DiDi Chuxing, has just been taken over by the City of Beijing.

In a report by Bloomberg, the City will now be running the company and leading its day-to-day activities.

Under the new arrangement, the Chinese government through the City of Beijing will have controlling and majority stakes in the company.

The move is coming weeks after Xi Jinping’s government started a wide-ranging onslaught against data-heavy and tech giants with global listings and reach out of China.

The news is coming less than three days after the government summoned and interviewed 11 ride-hailing firms asking them to rectify non-compliant behavior.

Didi vows to be more transparent on drivers’ income after criticism

The Ministry of Transport, along with a number of other regulators including the Cyberspace Administration of China and State Administration of Market Supervision, jointly interviewed the companies including Didi, T3 and Meituan.

Chinese regulators alleged that the services are recruiting unapproved drivers and vehicles.

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