Ride-hailing firm Didi to be fined more than $1B

By Agence France-Presse

Jul 21, 2022 12:07 am

BEIJING: China is preparing to impose a fine of more than $1 billion on ride-hailing giant Didi to wrap up a long-running probe, media reports said, boosting investor hopes that the East Asian country's technology crackdown is winding down.

Didi, once known as China's answer to Uber, has been one of the highest-profile targets of the widespread clampdown on the sector, which saw years of runaway growth and supersized monopolies before regulators stepped in.

TEST RUN This June 27, 2020 file photo shows autonomous vehicles of ride-hailing company Didi running at a testing zone in Shanghai. XINHUA PHOTO

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