Let's get to Hong Kong to take a closer look at this story, first featured by the Wall Street Journal. Authorities in China are expected to find d D global more than a billion dollars. Reuters is now reporting a similar account the charge with cap Aijing's year long probe into the right hailing giant. We're going to take a closer look with our own Edwin Chan. He is Bloomberg's Asia tech team leader, joining us from our studio in
Hong Kong. Edwin, thanks for being with us. So d D pays a billion dollars, which seems like a lot. What's next is the worst of the crackdown for d D over I think right the biggest question is right now with events beyond and all of it, and it's not at all clear to me, at least based on our reporting, that they're going to get away with just a billion dollars in fines, which too many observers would have been would be what amount to a slap on
the wrist. I mean, think back to a year ago when when d D had it's much talented ip with a lot of fanfare in New York and days later the authorities came down on them like a ton of bricks. And since then it's been kind of unrelenting um regulations and restrictions and public censure, state media criticism. Uh you know. They they had to remove their apps from stores and potentially there was talk of uh quote unquote unprecedented penalties
and they were forced to delist. So right now they're treating as a pink sheet in New York, which is usually a market reserved for uh less solid companies. And it's that that that their fate is kind of uncertain right now whether they can even you know, make that journey back to becoming a listed company again. So Beijing has find other Chinese tech firms. I'm thinking Ali Baba and I think the figure was around two point seven five billion and the delivery and ma Chuan was find
about five million dollars as part of a crackdown. Is there a formula that the antitrust regulator is using when determining the amount of these fines. Yes, in most cases there are anti trust guidelines where you are allowed to find a certain percentage of say the previous year's domestic revenue. So that was the formula formula very employed in Ali Baba's case, for instance, which was a record find and
that was two point eight billion. Indeed, these case it's less clear that the regulator overseeing this saga is a very different one the cyberspace administration of China. And I again, if you recall the events of a year ago, indeed, these cases, it was wasn't only kind of an anti trust,
anti competitive issue. It basically was a very um systemic data issue according to the SEA a C. And it sparked a nationwide clamped down on data security as well as freezing you know, a multibillion dollars some multi jillion dollar I puor pipeline that still hasn't really resumed. So if if you just look at those two cases side by side, I there are there are many who would say that d d's issue is of a different scale.
I shall we say, then Ali Baba is all meat once Well, I think it goes without saying that there was created a bit of a sigh of relief. I think for d D investors, the a d R s today in New York, we're up by more than Edwin. Thanks for being with us and sharing your expertise. Edwin Chann is Bloomberg Asian Tech team leader,