Beijing makes IPOs difficult

The Chinese government wants to take a closer look before the planned IPOs in Hong Kong when it comes to companies with a lot of user data. The responsible cyberspace regulatory authority published a draft in Beijing on Sunday, according to which the companies concerned must apply for a security check in advance. This should apply to all those companies that handle data that could affect national security. As recently as July, the regulatory authority suggested that every company that processes the data of more than one million users must undergo a security clearance before listing on the stock exchange abroad. Stricter restrictions on the collection and storage of data have also been introduced. The Beijing government had previously announced that it would tighten supervision of all foreign-listed companies.

Reference-www.sueddeutsche.de

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