Didi of China Moves to Delist From New York Stock Exchange

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The decades-long, trillion-dollar love affair between China and Wall Street is coming to an end.Didi Chuxing, a $39 billion company that is China’s answer to Uber, on Friday said that it would delist its shares from the New York Stock Exchange. Just six months ago Didi was a Wall Street darling, raising billions of dollars from American pension funds and international investors in a splashy New York initial public offering. Those sorts of deals once fueled a three-decade relationship that helped reshape the global political and financial landscape. China generated heaps of money for Wall Street by hiring banks to manage deals like I.P.O.s. In return, Wall Street gave China access to the halls of global finance and political power, especially when it came to …

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