Didi revenue falls as China's regulatory crackdown hits business
CNN
China's ride-hailing firm Didi Global on Wednesday reported a 1.7% decline in third-quarter revenue, as its domestic business took a hit from a regulatory crackdown.
Daniel Zhang, the chief executive officer of Chinese e-commerce giant Alibaba Group Holding , who had served as a director on Didi's board since 2018 has resigned, the company said.
Chinese authorities have come down hard on Didi, after its New York Stock Exchange listing in June, demanding it take down its app from mobile app stores while the Cyberspace Administration of China (CAC) investigated its handling of customer data.
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