- China's Transport Ministry would intensify a crackdown on illegal behavior in the ride-hailing industry, Reuters reports.
- The regulator would deal with online platforms that still use non-compliant vehicles and drivers.
- The announcement follows the country's cybersecurity probe on DiDi Global Inc DIDI.
- Recently it was reported that China planned to take DiDi under its control.
- Additionally, the Cyberspace Administration of China had shut down and banned 1,793 so-called self-media accounts on online platforms since Aug. 27, after a probe into the illegal release of financial information and badmouthing of financial markets.
- The accounts closed include three with over a million followers and removed over 47,000 pieces of "harmful information."
- Price Action: DIDI shares traded lower by 8.15% at $8.90 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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