The ride-hailing company must pay a fine of more than 8 billion yuan for violating cybersecurity, data-security and personal-information protection laws. Didi CEO Cheng Wei and the firm’s president, Liu Qing, will each be charged 1 million yuan. (The Logic)

Talking point: The fine may end a campaign by Chinese regulators that made Didi a symbol of the country’s internet-company crackdown. The massive company, which had 493 million active users between March 2020 and March 2021, has been expanding globally since 2018, and went public in June 2021. But within days, Chinese authorities announced an investigation that battered the stock, which was eventually delisted from the New York Stock Exchange. The Chinese government has also tightened restrictions on expression, competition and children’s gaming amid its “common prosperity” strategy. In the wake of Didi’s fine, Linghao Bao, an analyst at research firm Trivium China, told The New York Times that “big tech platforms are getting a break as the economy is not doing so well … But tech regulation is here to stay.”