Why Didi Defied Beijing and Listed in the US?
On June 30, Didi Chuxing listed on the New York Stock Exchange and raised US$4.4 billion. The following day, its valuation exceeded US$78 billion. Things went downhill fast. On July 2, the Cyberspace Administration of China (CAC) announced a cybersecurity review of the company. Two days later, Didi was removed from app stores, followed by
