China to ban some tech firms from listing overseas

Tech

China to ban some tech firms from listing overseas

  • China plans to ban foreign IPOs for tech firms with data security risks: report.
  • How it will work: All internet firms planning to list their shares outside China would be asked to voluntarily apply for reviews with the powerful Cybersecurity Administration of China.
  • Beijing said last month that it planned to strengthen supervision of all firms listed abroad, after conducting a cybersecurity investigation into ride-hailing giant Didi Global just days after its US listing.

[Via]

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