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Tag archives: 2020

China"s cybersecurity regulator said on Thursday it has fined ride-hailing giant Didi Global Inc more than 8 billion yuan ($1.19 billion), sending a strong message to the internet industry that it is vitally important to strengthen protection of data security and personal information. The decision shows that China is aligning with international practices in toughening regulations on data breaches, highlighting the fact that prioritizing data security has become essential for the healthy development of companies, industry experts said. The Cyberspace Administration of China said a one-year cybersecurity review has found clear evidence that Didi violated the Cybersecurity Law, the Data

Viva China Holdings, a major shareholder of Hong Kong-listed Chinese sportswear group Li Ning Co Ltd, held an extraordinary general meeting of shareholders on Wednesday and formally voted to approve its acquisition of Clarks, a British shoemaking brand. Viva China and private equity firm Lion Rock Capital invested in Clarks" parent company, acquiring a 51 percent stake in Clarks for 100 million pounds ($121.13 million), making it Clarks' largest shareholder, according to a previous announcement by the company. Following its acquisitions of casual wear brand Bossini in July 2020 and Italian luxury brand Amedeo Testoni in early 2022, Viva China

Chinese housing services provider KE Holdings Inc announced it will be listed by way of introduction on the main board of the Stock Exchange of Hong Kong. Its joint sponsors are Goldman Sachs and China International Capital Corporation, according to the company"s exchange filing on Thursday. The company said it has applied for a listing of its Class A ordinary shares on the main board, and dealings in the Class A ordinary shares on the Hong Kong Stock Exchange are expected to commence next Wednesday under the stock code "2423" and will be conducted in Hong Kong dollars. Online news