Didi gears to relaunch apps in China

Didi Global is said to be preparing to relaunch its ride-hailing and other apps in China by the end of the year in anticipation that Beijing's cybersecurity investigation into the company will be settled by then.

And sources said the expectation was that China's cyberspace regulator will finalize any penalties on the company in December.

The company is believed to have set aside 10 billion yuan (HK$12.17 billion) against any fine.

In July, the Cyberspace Administration of China ordered app stores to remove 25 mobile apps operated by Didi. That was just days after the ride-hailing giant listed in New York.

The administration also told Didi to stop registering new users, citing national security and the public interest.

Asked about preparations to relaunch the apps and the amount set aside for a potential fine, Didi said information being bandied around was "pure hearsay with no grounds in fact," adding that it was cooperating actively and fully with the cybersecurity review.

Still, Didi shares listed on the New York Stock Exchange climbed more than 5 percent in premarket trading yesterday, apparently on the belief that positive turns were being sighted.