China to conclude cybersecurity probe, Didi app to be restored – WSJ

Chinese regulators are concluding their probes into Didi Global Inc, preparing to allow the ride-hailing company’s mobile app back on domestic app stores as early as this week, the Wall Street Journal reported on Monday.

Didi’s U.S. shares rose 46% in pre-market trade.

Last year, the Cyberspace Administration of China (CAC) ordered app stores to remove 25 mobile apps operated by Didi – just days after the ride-hailing giant listed in New York. It also told the company to stop registering new users, citing national security and the public interest.

Regulators are also planning to allow the apps of logistics platform Full Truck Alliance Co and online recruitment services company Kanzhun Ltd back on Chinese app stores this week, the WSJ said, citing people familiar with the discussions.

Chinese regulators will also lift a ban on the companies adding new users, WSJ said.

Didi, Full Truck, and Kanzhun did not immediately respond to Reuters’ requests for comment. The Cyberspace Administration of China (CAC) was not immediately available for comment.

The three companies are expected to face financial penalties, along with offering 1% equity stakes to the state and give the government a direct role in corporate decisions, WSJ reported.

Last year, Chinese authorities launched a cybersecurity probe into the companies, after which their apps were removed.