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China tech

Didi Global pushed into the red by China crackdown

Ride-hailing company posts $4.8bn quarterly loss as rivals circle

Due to a falloff in domestic transactions, Didi's revenues contracted 11.5% in the third quarter from the second.    © AP
CISSY ZHOU, Nikkei staff writer | China

HONG KONG -- Embattled Chinese ride-hailing leader Didi Global fell into the red last quarter under pressure from the regulatory crackdown that followed its $4.4 billion initial public offering in the U.S. last June.

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