The Chinese economy is one of the fastest growing in the world Didi is fined more than $1 billion by the Chinese government for violating data security law

As a result of its decision to fine Didi, China's Cyberspace Administration has fined the company 8.026 billion yuan ($1.19 billion).

Chinese authorities fined Didi Global on Thursday, ending a year-long investigation that had prevented the company from gaining new customers.

After Didi violated China's network security law, data security law, and personal information protection law, China's Cyberspace Administration fined the company 8.026 billion yuan ($1.19 billion).

According to China's anti-monopoly laws, a Didi subsidiary was one of several companies fined in March for failing to disclose certain transactions.