China reportedly warned local businesses to tighten data security oversight and overseas listings days after it was announced that Didi had undergone a government cybersecurity review.
The State Council issued a statement on Tuesday indicating that it would crack down on the corporate sector in a number of areas, from antitrust to cybersecurity to fintech. Bloomberg said in a report.
As part of the statement, China reportedly said the rules for local companies listed overseas would be revised and listed companies would be held accountable for protecting their privacy.
China also reportedly said it would step up its regulatory oversight of companies trading in offshore markets.
China’s lawmakers have already begun cracking down after passing new data protection laws last month to strengthen government control over digital information. The freshly baked …