Hong Kong: China Regulator is considering suppressing data rich in data to submit management and supervision of their data to third party companies if they want our stock list, said source, as part of Beijing’s supervision in private sector companies.
Regulators believe bring third party information security companies, ideally supported by the state, to manage and monitor IPO data hoping to effectively limit their ability to transfer Chinese land data abroad, one of the people said.
It will help alleviate the growing worries in Beijing that foreign lists can force Chinese companies to submit some of their data to foreign entities and damage national security, adding the person.
The plan is one of several proposals considered by China’s regulator because Beijing tightened his grip on the country’s internet platform in recent months, including seeking to sharpen the overseas list of lists.
The crackdown, which has destroyed shares and incorrect investor sentiments, has specifically targeted unfair competition and handling internet companies from a very large cache from consumer data, after years of the Laissez-Faire approach.
The final decision on the planned submission of iPo-bound company data has not been made, the sources said, which refused to be identified because of the sensitivity of the problem.
Regulatory officials have discussed plans with capital market participants, saying one source, as part of the steps to strengthen supervision of all Chinese companies listed off the coast.
IPO Advisor hopes the formal framework for data submission problems can be sent in September, the source said.
The China Securities Regulatory Commission (CSRC) and Cyberspace China (CAC) administration did not respond to fax requests for comments.
The Chinese regulator recently placed plans to recording abroad companies, especially in the United States, when holding new rules about data security.
Last month, CAC proposed a rules design calling for companies with more than 1 million users to undergo security reviews before registering abroad.
Increasing the supervision of Beijing Beijing’s data expenditure plan came when US policy makers raised fears that Chinese companies violated US rules demanding public companies to reveal to investors of various potential risks to their financial performance.
As many as 37 Chinese companies have collected $ 12.6 billion through the US IPH so far this year, according to Deogic, almost doubled $ 6.6 billion which was appointed during the same time last year.
The plan to increase the supervision of Chinese companies registered abroad came a few days after Beijing launched a virtual world investigation to ride the bloody giant Didi Global Inc.
at $ 4.4 billion in the US stock market list.
Didi now in talks with the Weston Information Industry owned by the state Inc.
to handle data management and monitoring activities, Reuters reported earlier this month.
Under the plan that is being discussed, Westone will be able to access Didi servers throughout the country to track the latest data collection, use and transfer – which can effectively ban company data from falling in the hands of foreign entities, according to reports.
Didi at that time said media reports about submitting data control were not correct.
The proposed restrictions to be implemented in Didi can be a possible template for Chinese-rich Chinese companies that want to be published in the United States, said one person.
Increased Beijing sensitivity about the collection and use of land data emerged as the top legislative body on Friday issued a new law designed to protect online user data privacy.
This will implement policies from 1.
November in September, China is also established to implement data security laws, which requires companies that process “important data” to conduct risk assessment and submit reports to the authorities.
The government in recent years has more user data as the key to financial and social stability and encouraging technology giants including the Semut Group, Tencent and JD.com to share consumer loan data to prevent excess loans and fraud, Reuters reported in January.
Ants are also in the process of spending consumer consumer-credit data operations, as part of the business revamp to revive the sales of its public share.
China to ask the company to be bound to our IPO to submit data controls
