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Cybersecurity

China to Impose Security Check on HK IPOs Under Big Data Rules

  • Prospective listings may need review by cyberspace regulator
  • Regulator unveiled rules targeting mergers to data usage

China will require technology companies seeking a listing in Hong Kong to undergo a cybersecurity review as part of sweeping new rules aimed at tightening control of information amassed by private firms.

Prospective listings will need approval before selling shares in Hong Kong if authorities decide there is a potential impact to national security, according to a draft rule published by the Cybersecurity Administration of China, the country’s cyberspace regulator. The regulation was just one of many unveiled Sunday covering everything from takeovers to setting up overseas headquarters and transferring data across China’s border.