China’s Internet regulator on Sunday released a draft of rules requiring Hong Kong-listed companies to undergo cybersecurity screening if the stock sale could harm national security, threatening a recent relocation of tech groups to the territory.

The Cyberspace Administration of China, the country’s powerful data watchdog, announced in July that it would tighten the rules for companies seeking listing abroad. At the time, the guidelines did not specify whether the provision would apply to Hong Kong.

The CAC ran $ 4.4 billion two days after it went public on the New York Stock Exchange. The rideshare company had to stop registering new users during the investigation.

Global investment banks attempted to reroute Chinese companies to go public in Hong Kong over the summer, resulting in …

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