China announces Didi cybersecurity investigation

The Chinese government on Friday announced a cybersecurity investigation of ride-hailing service Didi, stepping up scrutiny after earlier criticism of its handling of customer information caused the company's New York-traded shares to tumble.

A one-sentence announcement by the Cyberspace Administration of China gave no details. But the company earlier was ordered to stop signing up new customers while it overhauled its collection and handling of information about its users.

The ruling Communist Party is tightening control over China's booming technology industries and information about its public and economy, which it sees as a sensitive strategic asset.