China regulator proposes cybersecurity review for some firms planning Hong Kong IPOs
The Cyberspace Administration of China’s (CAC) latest draft proposals on online data security management follow a proposed regulation in July that any company with data for more than 1 million users must undergo a security review before an overseas listing of its shares.
China has been broadly pushing more companies to list domestically.
Its cyberspace regulators have also been imposing tighter restrictions on data collection and storage.
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