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China is set to finalize its investigation into three US-listed firms and is looking to allow them to onboard new users, following the country’s crackdown on tech firms.
Source: WSJ
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China is looking to allow the mobile application of Didi Global Inc. back on its local application stores, and enable it to add new users as early as this week, according to sources close to the matter.
Officials also eye the removal of limits on enrolling new users on applications run by online recruitment firm Kanzhun Ltd. and by logistics firm Full Truck Alliance Co. which started accepting registrations late Monday.
All three firms were removed in July 2021, after going public in the United States last June after raising some $7 billion in total, shortly before Chinese regulators started their cybersecurity reviews.
The three firms had a cumulative capitalization of $25 billion, down from the $115 billion recorded on July 1, 2021 before the investigations were made public.
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