China Fines Didi $1.2 Billion as Tech-Sector Pressures Persist

The authorities in China on Thursday fined the country’s ride-hailing giant, Didi, $1.2 billion for data security violations, the latest in a string of regulatory actions that have laid low China’s once soaring internet sector.

The penalty, announced by China’s internet regulator, the Cyberspace Administration of China, ended a yearlong investigation into the data practices of the ride-sharing giant that spoiled a blockbuster listing in…