China’s crackdown on Didi is growing


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Good morning all. Here in Singapore Mercedes. The crackdown on Big Tech in China is spreading like wildfire. Readers of #techAsia will no doubt find that Didi’s drama is interpreted the same way we are. Beijing’s tech crackdown, which began with the end of Ant Group’s IPO late last year, has hit investors around the world. Check out Huawei’s latest semiconductor tips and spectacular US plans from Vietnam’s richest men (Mercedes Top 10). Also, don’t miss the shot of James at the end of Tesla’s honeymoon in China. Until next week!

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Big story

It started as Diddy crackdown, a newly listed Chinese rideshare service company in New York City. But in both technology and finance, it could accelerate China’s separation from the wider world economy.

China’s cyberspace administration has ordered Didi to remove apps from domestic app stores for violating laws regarding the collection and use of personal data. Start investigation To two other Chinese companies recently listed in the United States.

Main impact: The main problem is China’s attitude to data and national security. Zuo Xiaodong, editor-in-chief of China’s Future Data Standards, said US listed company auditing legislation (passed last December) could disclose important data across China’s borders. Mentionned.

Tuesday’s announcement showed how seriously China takes this. The highest executive branch of the state has decreed a comprehensive crackdown on “illegal securities activities” and said it will tighten restrictions on listed companies abroad, especially for the cross-border transfer of information confidential.

The announcement called for the establishment of an “extraterritorial enforcement system”. [China’s] Capital markets law ”. This system may reflect the new Chinese data security legislation. The law provides that Chinese entities must obtain government approval before providing data based in China to foreign law enforcement and judicial bodies.

Conclusion: In a data-driven world, almost all Chinese companies trying to go public will be caught in new regulations. One possible result is a sharp slowdown in China’s listing in New York, which has 34 Chinese companies. Record raised of $ 12.4 billion In the first half of 2021. The Hong Kong stock exchanges could benefit from this.

In a broader sense, there may be growing concerns about data privacy and national security. In a relevant example, the following large international technology companies Google, Facebook, Twitter He warned Hong Kong of a potential escape if the financial center pushes for planned changes to the privacy law.

Top 10 Mercedes

  1. Apple’s $ 50 billion company China Sure – for now. Chinese tech companies try to circumvent privacy policies Stopped.. (FT)

  2. Can AI get medical care where doctors don’t want to go? Latest Tech Tonic podcast Go to the campaign India Find techniques to help forgotten patients. (FT)

  3. from Taiwan TSMC Stay important AT We Chip groups, including Apple and Intel, despite efforts to further outsource semiconductor production. (Nikkei Asia)

  4. ByteDance AI technology sales It powers its TikTok video app on external websites and apps China This is because we are trying to expand our income base before the IPO. (FT)

  5. Chip engineer Munich, Software Developer Istanbul And AI researchers Canada – – Chinese Huawei Hire a world army While fighting We Punishments. (Nikkei Asia)

  6. Chinese Technology group Abolish overtime on weekends Following allegations of abuse. Beijing’s crackdown on Big Tech may also have brought about a change. (FT)

  7. Fam Nhat Von, Vietnamese The richest man has sight We In preparation with the electric vehicle market Boost multi-billion dollar sales.. (Nikkei Asia)

  8. A Chinese Smartphone assembler Shop the UK’s largest tip centerA deal that strengthens Beijing’s supply chain but is likely to attract attention. (Nikkei Asia)

  9. in the same way Chinese Huawei’s chip design department in the chip supply chain First public operation Avoid We Block access to critical technologies. (Nikkei Asia)

  10. Last week we marked the end of the pepper robot Japan. FT’s Leo Lewis has some wise words on why we shouldn’t mourn what happened “Essentially an advertiser” From Softbank. (FT)

Since its introduction to the world seven years ago, Pepper has barely fulfilled its promise. © AFP via Getty Images

Our point of view

How much do you have You’re here Has the honeymoon in China turned sour? We’ll know more when the June sale is announced later this month, but some things are emerging.

First, domestic competitors are increasing their sales in China much faster than Tesla. Warren Buffett-Support BYD In June, we sold 20,016 battery-powered electric vehicles in China, up 102% from the previous year. NioAnother domestic challenger, which recorded a 116% sales increase in June. But even this performance Réauto And Xpeng, June sales would have increased by 321% and 617% respectively.

For comparison, Tesla sold 33,463 electric vehicles made in China in May. This has increased 29% since April, including exports. However, April’s total fell sharply from March’s count.

Persistent negative national media coverage, a ban on Tesla use by some government agencies due to data privacy concerns, and much of almost all Tesla sold in China to address software flaws. Recalls are cited as the reason for the slowdown in sales. by Elon Musk The Chinese halo is slipping.

check New release For electric vehicles released by great people Steve levin..

– James

Intelligent data

Many “digital nomads” are not always easy. Nonetheless, the pandemic has convinced many people that they can work virtually anywhere with an Internet connection.

So where should nomads migrate? Ranking As mentioned above, Tallinn, the capital of Melbourne, Dubai, Sydney and Estonia, is the number one city in the peloton by certain criteria.

Most important of these is the willingness of authorities to grant digital nomadic visas or similar permits that allow people to stay longer and work independently than tourists.

Projector

Therefore Have I got Public face, Jean LiuThe president is used to fighting fire. Liu is the one who visited the scene with his family when the driver of the Chinese Ride Hailing app was killed by a passenger in 2019.

43 years old Goldman Sachs Executive The most famous and successful woman leader In the Chinese technical scene. Liu was often the only woman on the panel at the Global Technology Conference and has long been a public ambassador for the company versus the low key. Cheng Wei, Founder and CEO of Diddy. It has hosted technology leaders including: Apple Tim cook We have secured billions of dollars in investment from major global internet companies.

Liu, now breast cancer survivor and daughter Lenovo Founder Liu Chuanzhi, Will be more than ever in the spotlight.The Chinese government in Diddy on Sunday Removed from the local app store Problems related to the collection and use of data. The move came days after Diddy went public on the New York Stock Exchange and the company’s stock price fell. It is almost unknown how far Beijing will dominate Diddy, but it will be Liu’s biggest test yet.

When the wise man speaks

  • In what part of the semiconductor industry is China heavily dependent on foreign technology suppliers? How likely is China to catch up in the next decade? This study Of John lee And Jan-Peter Kleinhans therefore MerrickBerlin-based think tanks are looking for answers.

  • China’s Ministry of Industry and Information Technology has released a draft standard on cybersecurity in self-driving cars ( Chinese).Good here Information document Of Matt Sihan therefore MacroPolo How China is progressing in this area.

  • Anne Inspection Here in China’s “psychological warfare” through various means such as social media Jang Hyuk Jun For Chatham House.

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China’s crackdown on Didi is growing China’s crackdown on Didi is growing


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