The Cyberspace Administration of China (CAC) on Thursday announced fines of more than ¥8 billion (U.S. $1.2 billion) against ridesharing platform Didi Global and ¥1 million (U.S. $148,000) against two company executives for violating the country’s data security regulations.
The penalties come a year after the CAC ordered app stores to remove 25 apps operated by Didi as its investigation got underway. Didi in May notified the New York Stock Exchange of its decision to delist its shares from the U.S. market, a move reportedly related to the probe.
