China tightens rules on foreign IPOs in new blow to tech firms

China tightens rules on foreign IPOs in new blow to tech firms
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China said its companies that hold the data of more than 1 million users must now apply for cybersecurity approval when seeking overseas listings, as regulators tighten oversight of the country’s tech giants. | AFP-JIJI
BLOOMBERG
Jul 10, 2021
China proposed new rules that would require nearly all companies seeking to list in foreign countries to undergo a cybersecurity review, a move that would significantly tighten oversight over its internet giants.

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