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DIDI GLOBAL INC.

(DIDI)
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China's regulations against education and tech sectors good for country -Xinhua

07/28/2021 | 02:16pm EDT
FILE PHOTO: Children leave a school in the Shekou area of Shenzhen

SHANGHAI (Reuters) - China's recent policy tightening against the tutoring industry and Internet platforms is good for long-term development of the country, and China remains committed to opening up its capital markets, the official Xinhua News Agency said late on Wednesday.

The Xinhua commentary followed a brutal sell-off in shares of Chinese companies this week.

Global investors were spooked by Chinese rules published over the weekend that ban for-profit tutoring in core school subjects. Beijing has also launched an anti-monopoly campaign against tech giants.

These policies are not designed to crack down on related sectors, Xinhua said. Rather, they are key measures aimed at promoting healthy industry development, ensuring data security and safeguarding people's livelihoods, said the commentary.

Investors are also concerned over China's commitment to opening up, after the government tightened scrutiny on overseas listings by Chinese companies, and launched a national security probe into DiDi Global Inc days after its U.S. listing.

Xinhua brushed aside such concerns, saying China's pace of opening its capital markets has quickened, not slowed, and that the country's securities regulators are open-minded toward Chinese companies' choice of listing venues.

Although China's capital markets are underpinned by the country's healthy economy, reforms are urgently needed in the face of harsh domestic and external environments, Xinhua said.

(Reporting by Samuel Shen and Andrew Galbraith; Editing by Steve Orlofsky)


ę Reuters 2021
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Financials
Sales 2021 195 B 30 078 M 30 078 M
Net income 2021 -1 503 M -232 M -232 M
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 237 B 36 705 M 36 699 M
Capi. / Sales 2021 1,22x
Capi. / Sales 2022 1,02x
Nbr of Employees 15 914
Free-Float -
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Number of Analysts 1
Last Close Price 49,20 CNY
Average target price 162,07 CNY
Spread / Average Target 229%
Managers and Directors
Wei Cheng Chairman & Chief Executive Officer
Qing Liu President & Director
Yue Zhuo Chief Financial Officer
Bo Zhang Chief Technology Officer
Rui Wu Vice President-Risk Control & Compliance
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