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Exclusive-China to allow Didi apps back online, in latest sign of regulatory thaw-sources

Friday, January 13, 2023
Exclusive-China to allow Didi apps back online, in latest sign of regulatory thaw-sources © Reuters. A sign of Chinese ride-hailing service Didi is seen on its headquarters in Beijing, China July 5, 2021. REUTERS/Tingshu Wang
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By Julie Zhu, Kevin Huang and Xu Jing

Jan 13 (Reuters) - Chinese authorities are set to allow Didi Global's ride-hailing and other apps back on domestic app stores as soon as next week, five sources told Reuters, in yet another signal that their two-year regulatory crackdown on the technology sector is ending.

Didi has been awaiting authorities' approval to resume new user registrations and downloads of its 25 banned apps in China as a key step to resume normal business since its regulatory troubles started in mid-2021.

The lifting of the new user ban and app resumption for its flagship ride-hailing services and other business could take place before the Lunar New Year which begins on Jan. 22, said four of the sources.

The one-week-long holiday period in China would help Didi start to attract new clients for the business and work towards bringing it back to normal, added two of the sources.

A lifting of the ban on Didi apps would come as Chinese policymakers seek to restore private sector confidence and count on the technology industry to help spur economic activity that has been ravaged by the COVID-19 pandemic.

A restoration of apps would also signal Didi's completion of its nearly two-year long regulatory-driven revamp, and will come after the powerful cyber watchdog Cyberspace Administration of China (CAC) imposed in July a $1.2 billion fine on the company.

Didi did not immediately respond to a Reuters request for comment.

CAC and the State Council Information Office, which handles media queries for the government, did not immediately respond to Reuters requests for comment.

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    EUR/USD 1.0845 Buy  
    GBP/USD 1.2315 Neutral  
    USD/JPY 132.66 Buy  
    AUD/USD 0.6686 ↑ Buy  
    USD/CAD 1.3557 ↑ Sell  
    EUR/JPY 143.88 Neutral  
    EUR/CHF 0.9960 ↑ Sell  
    Gold 1,981.80 ↑ Sell  
    Silver 23.440 ↑ Sell  
    Copper 4.0785 Neutral  
    Crude Oil WTI 72.82 Neutral  
    Brent Oil 77.53 ↑ Buy  
    Natural Gas 2.181 Neutral  
    US Coffee C 170.03 ↑ Buy  
    Euro Stoxx 50 4,231.27 ↑ Buy  
    S&P 500 4,027.81 Buy  
    DAX 15,328.78 ↑ Buy  
    FTSE 100 7,564.27 ↑ Buy  
    Hang Seng 20,192.40 Neutral  
    Small Cap 2000 1,770.93 ↑ Sell  
    IBEX 35 9,070.70 ↑ Buy  
    BASF 47.180 ↑ Buy  
    Bayer 57.27 ↑ Sell  
    Allianz 209.35 ↑ Buy  
    Adidas 146.42 ↑ Buy  
    Lufthansa 9.647 ↑ Buy  
    Siemens AG 146.30 ↑ Sell  
    Deutsche Bank AG 9.143 ↑ Buy  
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