Uber halts move of Asia HQ to Hong Kong

Uber Technologies Inc on Thursday halted a plan to move its Asian headquarters to Hong Kong in another business blow for the Chinese-ruled city, choosing to extend its stay in Singapore until at least December 2022.

The firm’s announcement comes after China enacted a national security law for Hong Kong, which has stirred worries over its future as a hub for international business.

Global tech firms there are concerned that the law gives the Chinese government access to data and the ability to censor content.

Uber said its decision to delay the move, mooted in May, was based on a lack of progress on ridesharing regulations. It declined comment on the security law unveiled last month.