Will DIDI Set Off US China Capital Market Decoupling? The Story Behind Didi’s Disastrous IPO
China’s ride-sharing giant DIDI had a disastrous #IPO in the U.S.. Two days after #DIDI was listed on the New York Stock Exchange, the Cyberspace Administration of China (CAC) announced that Didi would be placed under cybersecurity review. During that review, new users would be banned from accessing the app. On Sunday, the CAC announced that the DIDI app would be removed from all #Chinese app stores. Why Did #China initiate a crackdown on DIDI? Will China prevent its digital giants from filing for an IPO in #America? Is this the beginning of a U.S.-China capital market decoupling? #SimoneGao explains in this episode of #ZoomingInChina Tea Time.