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China Considers Data Controls for Firms Seeking Overseas IPOs

August 27, 2021
Source: regulationasia.com regulationasia.com
News Snapshot:
The plan would require companies seeking overseas listings to hand over management and supervision of their data to third-parties. Chinese regulators are reportedly considering imposing requirements for local firms to hand over management and supervision of their data to third-parties if they are looking to list on overseas exchanges. According to Reuters , regulators believe bringing in “state-backed” third-party information security firms to manage and monitor the data could effectively limit their ability to transfer Chinese onshore data overseas. That move is aimed at easing concerns that a foreign listing might force Chinese companies to hand over data to foreign...
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Tags: capital | China | Chinese | cybersecurity | Cyberspace Administration of China | data | Internet | ipo | listing | listings | management | monitor | national security | overseas | Reuters | Security | technology

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