LONDON: Chinese authorities are preparing to impose a fine of more than $1 billion on ride-hailing firm Didi Global, people familiar with the matter said on Tuesday, a move that could bring an end to a probe into the firm’s cybersecurity practices.
The people said the fine would be more than 8 billion yuan ($1.28 billion), accounting for about 4.7 percent of Didi’s $27.3 billion total revenue last year. They declined to be identified as the information was not yet made public.
The Wall Street Journal first reported the potential size of the fine earlier on Tuesday.
The ride-hailing firm did not immediately respond to a Reuters request for comment.
Didi’s fine would be the largest regulatory penalty imposed on a Chinese tech company since e-commerce titan Alibaba Group and delivery giant Meituan were fined $2.75 billion and $527 million respectively last year by China’s antitrust regulator.
Alibaba’s fine equated to about 4 percent of its 2019 domestic sales, while Meituan’s was equivalent to 3 percent of its 2020 domestic sales.
Didi’s penalty could pave the way for Beijing to ease a restriction banning it from adding new users to its platform and allow its apps to be restored on domestic app stores.
Didi, co-founded in 2012 by former Alibaba employee Will Wei Cheng and backed by SoftBank Group and Uber Technologies, previously set aside 10 billion yuan for a potential fine, Reuters previously reported.
The company has struggled to bring its business back to normal after angering Chinese regulators by pushing ahead with its $4.4 billion New York listing in June 2021 despite being asked to put the float on hold.
Days after Didi went public, China’s powerful Internet watchdog, the Cyberspace Administration of China, launched a cybersecurity probe into the company’s data practices and ordered app stores to remove 25 mobile apps operated by Didi.
The restrictions have chipping away at Didi’s dominance and allowed rival ride-hailing services operated by automakers Geely and SAIC Motor to gain market share.
The company announced it would delist from the New York Stock Exchange in December, and won its shareholders’ nod for the plan in May.
Shares of Didi soared in their initial public offering (IPO), giving the company a valuation of $80 billion. It was the biggest US listing by a Chinese firm since 2014.
Besides Didi, the CAC also launched cybersecurity reviews of Full Truck Alliance and online recruitment firm Kanzhun Ltd. July 2021.
Kanzhun and Full Truck Alliance said on June 29 the regulator had given their apps the go-ahead to resume new user registrations.
China to fine Didi more than $1 billion for data breaches, sources say
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China to fine Didi more than $1 billion for data breaches, sources say
- Didi’s penalty could pave the way for Beijing to ease a restriction banning it from adding new users to its platform and allow its apps to be restored on domestic app stores.
Saudi Arabia strengthens global ranking in 2026 Soft Power Index
- UAE maintains 10th place, Qatar climbs 2 spots
DUBAI: Saudi Arabia climbed three positions to 17th place in this year’s Soft Power Index, released on Tuesday by marketing consultancy Brand Finance.
Other Gulf nations also performed well, with the UAE maintaining its 10th-place ranking and Qatar and Bahrain each climbing two spots to No. 20 and No. 49, respectively, marking a rebound for the region after a softer showing in 2025.
The report indicates that the performance reflects sustained investment in proactive diplomacy, economic diversification and expanded initiatives across culture, tourism and sports.
It also comes at a time when several Western powers are recording declines in their rankings, highlighting the growing influence of Gulf states.
“The UAE remains a clear regional leader, while Saudi Arabia and Qatar have strengthened their global positions through focused economic diplomacy and international engagement,” said Savio D’Souza, managing director for the Middle East and Africa, Brand Finance.
Saudi Arabia and the UAE either maintained or improved their rankings across all key pillars, including familiarity, reputation and influence.
The Kingdom recorded notable gains, with increases of 25 points in the People & Values pillar and 12 points in the Culture & Heritage pillar.
“Although perceptions across some markets remain mixed, renewed upward movement in the rankings suggests that targeted, long-term soft power strategies are beginning to pay off,” D’Souza said.
Globally, the US retained its top position despite recording the steepest overall decline in its score, followed by China in second place. Japan rose to third place, overtaking the UK, which ranked fourth, while Germany placed fifth.
Brand Finance defines “soft power” as a “nation’s ability to influence the preferences and behaviors of various actors in the international arena (states, corporations, communities, publics, etc.) through attraction and persuasion rather than coercion.”
Each nation is assessed across 55 individual metrics, producing an overall score out of 100 and a ranking from first to 193rd.
