June 6 (Reuters) – Chinese authorities will wrap up investigations into Didi Global and two other companies and are set to allow the ride-hailing giant to redeploy its app in China, the Wall Street Journal reported on Monday.
Regulators also plan to allow the redeployment of apps from logistics platform Full Truck Alliance and online recruitment services firm Kanzhun, according to the WSJ, citing unnamed sources familiar with the matter.
This is the latest signal to investors that promises to ease pressure on China’s internet sector are starting to bear fruit.
Wall Street-listed Didi stock jumped 50% to $2.78 (2.59 euros) in premarket trading, while Hong Kong’s Hang Seng technology index closed up 4.6% .
Didi did not immediately respond to requests for comment, and the Cyberspace Administration of China (CAC) was not immediately available for comment.
The Yunmanman and Huochebang apps of Full Truck Alliance, two of China’s leading trucking platforms, have resumed registering new users, according to checks by Reuters on Monday.
Full Truck and Kanzhun did not immediately respond to requests for comment, but investors are optimistic. Full Truck stock jumped 28% in pre-market trading and Kanzhun stock jumped 21%.
According to the WSJ, the three companies should still be subject to financial sanctions, as well as the obligation to offer 1% stakes to the state and to give the government a direct role in the decisions of the company. . (Report Maria Ponnezhath in Bangalore, Tom Westbrook in Singapore, Yingzhi Yang in Beijing, Zhang Yan in Shanghai and Josh Ye in Hong Kong; French version Augustin Turpin, edited by Kate Entringer)