Citi of Beijing Said to Propose Taking Didi Under State Control

The transcript discusses Beijing's proposal for state-owned companies to take a stake in Didi, potentially including a golden share and board seat. This move is seen as a warning to other companies to comply with government expectations. The market is reacting to the possibility of a take private deal for Didi, whose shares have fallen since its US listing. The Chinese government's new requirement for a data security review for overseas listings is causing companies to reconsider their options, with some shifting from New York to Hong Kong.

What factors should Chinese companies consider when thinking about overseas listings?

What is the significance of the data security review for companies listing outside of China?