The Chinese government is tightening its grip on the country's internet giants, coming down particularly hard on companies listed on the U.S. stock market. A broad swath of investors could be affected by the crackdown. China must stop using unclear rules to hobble web companies.
Chinese regulators on July 4 ordered Didi Global, the country's largest ride-hailing service, to remove its app from domestic app stores due to violations of laws on collecting and handling personal information. Didi had just listed on the New York Stock Exchange on June 30.