Uber's Chinese Rival DiDi's Apps Make Way Back To China's Leading Mobile Stores

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  • Chinese technology company DiDi Global Inc's DIDIY domestic ride-hailing app returned to China's domestic Apple Inc AAPL app store.
  • The app also returned to some Android app stores on January 17, Reuters reports.
  • The main ride-hailing app reappeared for download on platforms run by Huawei Technologies Co and Xiaomi Corp XIACF XIACY, Bloomberg reports.
  • Didi sought approval to resume new user registrations and downloads of its 25 banned apps in China since its regulatory crackdown started in mid-2021.
  • DiDi's relaxations were likely to take place before the Lunar New Year holiday period, which would help DiDi start to win new clients for the business.
  • The revocation of DiDi's ban got delayed by a leadership reshuffle and a pandemic resurgence in the country.
  • China struggled to restore private sector confidence and spur economic activity ravaged by the pandemic.
  • The report further noted that DiDi, once celebrated as the national champion that drove Uber Technologies Inc UBER out of China, was among the companies at the heart of the regulatory crackdown on the internet industry that started with the halt of the Ant Group Co's IPO.
  • China penalized DiDi by $1.2 billion in July.
  • Didi launched in Beijing in 2012 and backed by the likes of Alibaba Group Holding Limited BABA irked regulators as it pressed ahead with its U.S. stock listing against the regulator's will.
  • DiDi had to pull out from the NYSE in June 2022.
  • Price Action: DIDIY shares closed higher by 7.25% at $4.44 on Thursday.
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