Updated! China to let Didi loose soon

A Wall Street Journal report has it that Chinese regulators are concluding yearlong probes into Didi Global Inc, Full Truck Alliance Co, and Kanzhun Ltd.

According to the report, the regulators are preparing as early as this week to lift a ban on their adding new users.

Didi’s U.S. shares jumped 50% to $2.78 in pre-market trade

Regulators are also planning to allow apps of logistics platform Full Truck Alliance Co and online recruitment services company Kanzhun Ltd back on app stores this week.

Reuters reports that Full Truck Alliance’s Yunmanman and Huochebang apps, two of China’s major truck-hailing platforms, have resumed new user registration.

Full Truck shares leapt 28% in pre-market trade and Kanzhun shares rose 21%.

Ride-hailing giant Didi listed in New York before being choked by regulatory and CyberSecurity probes in China.

According to the Wall Street Journal report, the three companies are still expected to face financial penalties, along with offering 1% equity stakes to the state and give the government a direct role in corporate decisions.

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