Exchange Square, home to the Hong Kong Exchange. Credit: Kapi Ng/Shutterstock.com Chinese Regulator Proposes Lengthy Cybersecurity Review for Overseas Listings
A number of Chinese companies have reportedly pulled the plug on their intended listings in the U.S. as a result of Beijing's heightened scrutiny.
July 15, 2021 at 10:32 AM
5 minute read
The original version of this story was published on Law.com International
Beijing's heightened scrutiny on the foreign listings of Chinese companies could further incentivize them to list on home soil in Hong Kong, potentially increasing Hong Kong listings work at the expense of the U.S.
On Saturday, the Cyberspace Administration of China (CAC) proposed to update a year-old regulation to explicitly require Chinese companies listing abroad undergo a cybersecurity review before doing so. The proposal came a few days after the cybersecurity regulator launched reviews into the data collection practices of three Chinese tech companies that recently listed in the U.S.: Didi Chuxing, Full Truck Alliance Co. and Kanzhun Ltd.
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