China-based Didi Chuxing wraps out cybersecurity review & resumes user registrations

The 18-month prohibition on new user registrations for the ride-hailing service and transportation business Didi Chuxing was lifted by Chinese authorities. The business promised the authorities that it will take concrete steps to protect the platform's infrastructure and large data. After receiving approval from the authorities to resume operations, Didi Chuxing is ready to resume new user registrations. According to a Reuters story, this marks the end of the 1-and-a-half-year suspension of new user enrolment and downloads. According to a statement from the business, "Our company has sincerely cooperated with the country's cybersecurity review, seriously addressed the security issues identified in the study, and carried out complete rectifications for more than one year." [caption id="" align="aligncenter" width="2000"] Image credit- Pandaily[/caption] Didi stated that strong steps would be put in place to guarantee platform security and client privacy. National cyberspace security will be protected at the same time. This will force the business to regain its trust and carry on with operations in order to support the economic growth that has been influencing the nation and the rest of the world. Angela Zhang, an associate professor at the University of Hong Kong's faculty of law, said this news for the corporation represents a long needed course correction for the government. One of the biggest ride-hailing businesses in the world has long been Didi Chuxing. The business, known as Didi Global, raised $4.4 billion from its initial public offering on the New York Stock Exchange in 2021. [caption id="" align="aligncenter" width="594"] Image credit- Tech Times[/caption] The Cyber Security Review Office looked into the corporation on the basis of national security only a few days after the submission, according to a report. The authorities were prompted to act at this time by the sell-off in Chinese technology stocks in New York and Hong Kong. Didi Chuxing has suspended new user registrations for 18 months while an inquiry is ongoing. The business's application was likewise not accessible for download. The Cyberspace Administration of China ordered the removal of 25 mobile applications from app stores, suspended the creation of new accounts, and fined the companies $1.2 billion for data security violations. The fine, which was paid last year, was the biggest regulatory penalty issued on a Chinese technology business since Alibaba and Meituan were hit with multibillion dollar fines. Only minor concerns remained, according to the China Banking and Insurance Regulatory Commission. The government will support its internet groups in showcasing their abilities to promote growth, job creation, and global competitiveness.