China’s cyberspace regulator: supportive of domestic firms seeking foreign capital

The app logo of Chinese ride-hailing giant Didi is seen through a magnifying glass on a computer screen showing binary digits in this illustration picture taken July 7, 2021. REUTERS/Florence Lo/Illustration/File Photo

BEIJING, Aug 19 (Reuters) – China’s cyberspace regulator said on Friday that it was supportive of domestic companies seeking foreign capital and that the focus of its review was whether there was the risk of data they held being abused by foreign governments.

The Cyberspace Administration of China, speaking at a press conference to discuss the country’s internet development, also said it was guiding and supervising the rectification work of Didi Global, the Chinese ride-hailing giant which was fined $1.2 billion last month for violating data security laws.

It also said it was supportive of the healthy development of internet companies, and that it would build a close and clean relationship between enterprises and the government.

Reporting by Martin Pollard and Eduardo Baptista; Editing by Himani Sarkar

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