Didi’s abrupt US delisting shows the extremes of Beijing’s data security crackdown

Beijing’s new focus on data security is forcing Chinese ride-hailing giant Didi Chuxing to depart the New York Stock Exchange less than six months after its more than $4 billion listing. The company announced the decision yesterday (Dec. 2), and said it will ensure its American depositary shares can be converted into “freely tradable shares” on another international stock exchange. It also said it has started pursuing a listing on the Hong Kong Stock Exchange.