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China to extend control on overseas listings

Shortpedia

Content Team
Image Credit: reuters

The Chinese Cyberspace Administration recommended this weekend that any firm having data on more than one million users must obtain clearance from the government before offering its shares outside of China. It also recommended that firms submit IPO documents for approval to the agency prior to listing. Before the draught regulations are formally enacted, the agency will seek "public input" on them, according to the agency.