China to Scrutinize Overseas IPOs of Firms that Collect Vast User Data
China is set to establish new rules that would strengthen supervision of all firms listed offshore that collect vast user data and pose possible security risks. Firms would be asked to apply for reviews from the Cybersecurity Administration of China (CAC) if they intend to list their shares outside the country. This plan is part of the country’s increasing interest in regulating the country’s internet platforms.
Source: Reuters, China plans to ban overseas IPOs for tech firms with data security risks – source, RAPPLER (PHIL.), Aug. 27, 2021, available at https://www.rappler.com/…/china-plans-ban-overseas…
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