China says firms with large user data to undergo security before overseas listing

photo by Markus Spiske on unsplash

China‘s cyberspace regulator said on Saturday any company with data for more than 1 million users must undergo a security review before listing its shares overseas, broadening a clampdown on its large “platform economy”.

The security review will put a focus on risks of data being affected, controlled or manipulated by foreign governments after overseas listings, the Cyberspace Administration of China (CAC) said, posting the proposed rules on its website.

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