Paul Leder, a former senior official at the U.S. Securities and Exchange Commission (SEC), commented on the recent announcement by Didi Chuxing (Didi), a Chinese company that had conducted an IPO on the New York Stock Exchange earlier this year, that it now planned to leave the U.S. market. U.S. listings by Chinese companies, including multi-billion-dollar companies like Didi, are now the subject of intense regulatory scrutiny and political pressure in both the U.S. and China. Commenting on the fact that as the U.S.-China relationship cools, more Chinese companies like Didi will be affected, Leder said, "It's bad for business to be caught between two superpowers flexing their economic and regulatory powers."