CHINA-ECONOMY: CHINA'S CYBER ADMINISTRATION IS INVESTIGATING 4 CHINESE COMPANIES, ALL OF WHICH HAVE RECENTLY LISTED IN THE U.S.
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On July 2, the Cyberspace Administration of China (CAC) announced it will conduct a “cybersecurity review” of ride-hailing firm Didi Chuxing. New account registrations were suspended. Later on July 4, the CAC announced that the investigation revealed “serious violations of laws and regulations in collecting and using personal information.” It ordered the removal of the app from app stores, though existing users can still use the app normally. It is not yet clear what Didi is accused of, but on July 5 the CAC commenced investigations of three more companies: Job-hunting app BossZhipin; Land logistics and trucking app Yunmanman; and Logistics and moving app Huochebang. Officially the Chinese government has said Cybersecurity reviews were designed to assess the security of network equipment and services purchased by Critical Information Infrastructure (CII) providers — i.e. important internet platforms. Reviews are specifically focused on mitigating national security risks. A Chinese business news outlet pointed out that the targeted companies have one thing in common i.e. they all recently listed in the US.
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