BEIJING, China (Reuters) – China’s internet authority announced on Friday that it would ban 25 Didi Global mobile apps from app stores as part of a government crackdown on the ride-hailing giant. The apps in question, according to the Cyberspace Administration of China, utilised data that was illegally gathered by Didi for its delivery service, camera device, and financing services. The cyberspace regulator ordered app retailers to remove Didi’s main ride-hailing app last week, just days after the company’s $4.4 billion IPO on the New York Stock Exchange. It also urged Didi to cease registering new customers while it investigated the firm, citing national security and public interest as justifications. After the latest news on Friday, Didi shares cut their gains to roughly 4%, after previously trading up more than 9%. Fears of a fallout from China’s increasing scrutiny on domestic technology companies and those listed outside caused the company’s market value to plummet by $21.5 billion in three sessions this week./n
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