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China tech

Didi delisting reflects Chinese worry over losing big data to U.S.

Xi keeps tight controls on tech companies ahead of party congress

BEIJING -- Didi Global's decision Friday to delist from the New York Stock Exchange follows months of pressure from a Chinese government that has increasingly prioritized guarding valuable domestic data over facilitating foreign investment.

Didi's announcement to switch its listing to Hong Kong comes less than six months after the ride-hailing giant's splashy debut on Wall Street. Beijing's pressure campaign began just days after the June IPO, with authorities launching a probe of the company on national security grounds and ordering to halt app downloads from app stores.

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