Didi Plunges After App Removal in China Tech Crackdown

The transcript discusses the surprise reaction of investors to DD's IPO, which was the second largest for a Chinese company in New York since Alibaba. Despite regulatory concerns communicated by Chinese regulators months before the IPO, DD proceeded as it was not in breach of any rules. The discussion highlights the attractiveness of the US market for Chinese companies due to higher valuations and a deep pool of capital. However, Beijing's lack of a comprehensive regulatory framework, especially concerning cybersecurity and data control, poses challenges. The need for more time to establish rules is emphasized, given the national security implications of foreign investment in Chinese companies.

How does the performance of U.S. stock markets compare to those in China or Hong Kong according to the text?

What challenges does Beijing face regarding the regulation of data from private companies?