After cracking down on Didi, China probes other US-listed tech giants

After cracking down on Didi, China probes other US-listed tech giants
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Daily US Times: Just one day after Didi, a ride-hailing giant based in China was banned from app stores in China, authorities have started cracking down three other major tech giants, citing concerns about national data security.

The Chinese major technology companies are currently under investigation recently went public in the US stock market, even though geopolitical tensions between the US and China countries remain high and Chinese authorities have been cracking down on technology companies.

The cracking down came at a time when China tightens its grip on major tech companies.

China’s cybersecurity watchdog on Monday announced probes into truck-hailing platforms Huochebang and Yunmanman, as well as job listing site Boss Zhipin. During the investigation, new users cannot register for these three apps.

Huochebang and Yunmanman are China’s two major truck-hailing apps and label themselves as “Uber for trucks.” In 2017, both of the companies merged to create a new firm — Full Truck Alliance, which listed on the New York Stock Exchange last month, and is currently valued at $21 billion.

Boss Zhipin is one of China’s largest online job listing platforms and last month, its parent Kanzhun listed in New York and has a market cap of nearly $15 billion.

In a statement, China’s Cybersecurity Review Office said that the probes are being undertaken to “prevent national data security risks, maintain national security, and protect the public interest.”

Full Truck Alliance said in a statement that it will actively cooperate with the probe and conduct a thorough check on its network security.

You may read: Didi ordered off China’s app stores by nation’s cyber regulator