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China Plans to Ban U.S. IPOs for Data-Heavy Tech Firms

News Snapshot:

A trader works June 30 during the IPO for Chinese ride-hailing firm Didi Global Inc on the floor of the New York Stock Exchange in New York City. Beijing plans to propose new rules that would ban Chinese firms with large amounts of sensitive consumer data from going public in the U.S. China plans to propose new rules that would ban companies with large amounts of sensitive consumer data from going public in the U.S., people familiar with the matter said, a move that is likely to thwart the ambitions of the country's tech firms to list abroad. In recent…

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