China ups security review for online platforms seeking overseas IPOs

0 Comment(s)Print E-mail Xinhua, January 5, 2022
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A newly revised Chinese regulation requires online platforms with more than 1 million users to undergo a cybersecurity review when they seek initial public offerings (IPOs) in overseas markets.

Operators of critical information infrastructure that purchase network products and services, as well as network platform operators that conduct data-processing activities, will undergo a security review if their activities affect or may affect national security, the regulation says.

Regulators will assess whether the public listing of a company may lead to key information infrastructure, core data, important data or a large amount of personal information being affected, controlled or maliciously used by foreign governments, according to the new rule.

The revised regulation will enter into force on Feb. 15, replacing the current 2020 version. 

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