Fidelity China Special Sits in conversation with Didi and Full Truck Alliance

Chinese companies under investigation

The manager of the £2.7bn Fidelity China Special Situations trust is in communication with the management of Didi and Full Truck Alliance (FTA), two companies which sit in its portfolio, as they undergo investigation by China's Cyberspace Administration of China (CAC).

CAC announced in early July that it had begun to investigate Didi and FTA which had recently debuted on the New York Stock Exchange. They have also ordered the app store to stop offering the Didi app, which the company has said will have an adverse impact on its revenues. US shareholders are suing Didi saying it failed to disclose ongoing talks it was having with Chinese authorities about its compliance with cybersecurity laws and regulations. Fidelity said it is "engaging with the impacted companies to understand and ascertain the extent of the probe on their business". Didi's sha...