Analysis: Didi’s Fate and China’s Overseas Share Sale Policies

China’s abrupt regulatory blows to ride-hailing giant Didi Chuxing drew attention to how domestically operating foreign-traded companies are under intense scrutiny at home and potentially abroad.

Cyberspace regulators ordered Didi’s app removed from Chinese app stores Sunday, two days after the company came under national security review. The app removal was four days after a $4.4 billion U.S. initial public offering, one of the biggest American stock market debuts of the past decade. Didi lost as much as 11% of its market value at one point Friday.