DiDi Global’s ride-sharing app has returned to app stores in China

DiDi Global (OTCPK:DIDIY) said late on Monday that its ride-sharing app had returned to app stores in China and new user registration would “resume immediately.”

“For more than a year, our company has seriously cooperated with the national network security review, seriously dealt with the security problems found in the review, and carried out comprehensive rectification,” DiDi posted to its official Weibo account.

“With the approval of the Network Security Review Office, the new user registration of ‘DiDi Chuxing’ will resume immediately. In the future, the company will take effective measures to effectively guarantee the security of platform facilities and big data, and maintain national network security.”

DiDi’s (OTCPK:DIDIY) apps have been banned in China since it came under fire in the middle of 2021 after it went public on the New York Stock Exchange amid much controversy.

Last week it was reported that DiDi’s (OTCPK:DIDIY) apps, 25 in total, could soon return to Chinese app stores as Beijing has relaxed its regulatory crackdown on the company and many of its other top tech companies, a process that has been ongoing for almost two years.

In June 2022, DiDi (OTCPK:DIDIY) started trading over-the-counter in New York after it delisted itself from the New York Stock Exchange and shareholders approved the measure.

One month later, DiDi (OTCPK:DIDIY) was fined $1.2B by China’s cybersecurity regulator, marking the beginning of the end of a year-long probe into the ride-hailing company.

In addition to the steep fine imposed on the company, founder and Chief Executive Cheng Wei and President Jean Liu were both fined the equivalent of $147,000 each for their roles in the matter.

Late last year, hedge fund Paulson & Co. disclosed that it had exited its stake in DiDi Global (OTCPK:DIDIY), while making several other changes to its portfolio.