China’s cyber space regulator said on Tuesday (Jan 4) it will implement new rules from Feb 15 that require platform companies with data for more than one million users to undergo a security review before listing their shares overseas.
The Cyberspace Administration of China (CAC) also said such firms should apply for cyber security reviews before submitting listing applications to foreign securities regulators, according to statements published on its WeChat account.
Companies will not be allowed to list abroad if the review finds that national security could be impacted, it said in a statement on its official WeChat account.
