• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

China Wants to Increase Cyber Monitoring of Hong Kong Technological IPOs?

November 26, 2021 by Eddie Worrell Leave a Comment

On Sunday, China’s internet watchdog issued draught guidelines requiring businesses listed in Hong Kong to undertake a cyber-security examination if the stock sale may jeopardize national security, challenging a recent migration by IT groups in the region. The Cyberspace Administration of China (CAC), the country’s prominent data police, stated in July that it will tighten requirements for firms looking to list abroad, requiring those with more than 1 million users to undergo a security assessment. The rules did not indicate whether the clause would pertain to Hong Kong at the moment. The CAC opened an investigation against Didi Chuxing for possible data infractions 2 days after its USD 4.4 billion IPO on the New York Stock Exchange in June.

During the probe, the ride-hailing business was obliged to halt new customer registrations. After the cyber security checks delayed a potential listings pipeline in the US, international investment bankers rushed during the summer to steer Chinese businesses to stay afloat in Hong Kong, which was considered as a more politically acceptable location for technology firms to leverage international capital marketplaces. After dropping plans to list in New York, Ximalaya, a prominent Chinese podcast, and audio website applied for an IPO in Hong Kong in September. According to the Financial Times, ByteDance, the owner of the ubiquitous short-video software TikTok, has rekindled ambitions to go public in Hong Kong by early next year.

The draught guidelines issued on Sunday were the first time Beijing stated that some Hong Kong share purchases will be susceptible to cyber security assessments. It also came after the implementation of a comprehensive data protection framework, which provided the CAC with increased authority to investigate how Chinese corporations handle customer data. However, the notification did not explain the prerequisites for this level of inspection. Asia-Pacific stocks to consider Chinese tech financing are expected to fall for the first time in seven years. In addition, while seeking a merger, organizations holding vast volumes of data important to China national security, economics, or social objectives would be required to submit to a cyber-security evaluation.

Internet businesses wishing to build headquarters abroad, operations centers, or R&D facilities must also notify Chinese officials in advance, according to the CAC. The draught guidelines were released one day before the debut of the Beijing Stock Exchange, a newly established market that would generate capital for innovative small start-ups as China attempts to encourage enterprises to utilize local exchanges. The Beijing Exchange is part of the government’s larger aim to develop indigenous IT leaders and reduce reliance on foreign businesses.

Eddie Worrell
Eddie Worrell

Related posts:

  1. The Galaxy Fold screen replacement will cost around US$ 149
  2. Apple Opens All 270 Stores In US For First Time In Almost One Year
  3. Apple Introduces Long-Awaited AirTags Accessory For USD 29, Include U1 Chip For Precision Finding
  4. NASA Says It Didn’t Find Evidence Against James Webb In Purging LGBT Employees, Rules Out Changing Name Of James Webb Space Telescope

Filed Under: Technology

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Dog Named Scribble Replicates Quantum Factorization Records – So We Tried It Too
  • How Old Is The Solar System? (And How Can We Tell?)
  • Next Week, A Record-Breaking Over 7 Billion People Will See The Total Lunar Eclipse
  • The Goblin Shark Has The Fastest Jaws In The Ocean, Firing Like A Slingshot At Speeds Of 3.1-Meters-Per-Second
  • We Thought Geological Boundaries Were Random. Now, A New Study Has Identified Hidden Patterns
  • Do Fish Sleep?
  • The Biblical Flood Myth That Inspired Noah’s Ark Had A Sinister Twist
  • Massive Review Of 19 Autism Therapies Finds No Strong Evidence And Lack Of Safety Data
  • Giant City-Swallowing Cracks In Earth’s Surface Are A “New Geo-Hydrological Hazard”
  • Three Incredible Telescopes Looked At The Butterfly Nebula To Learn Where Earth Came From
  • The Pacific Ocean Is So Vast It Contains Its Own Antipodes
  • World’s Tallest Bridge Over “Crack In The Earth” Gets Daunting Load Test By Fleet Of 96 Trucks
  • Mars’s Interior Still Has Evidence Of Ancient Impact, Dead NASA Mission Tells Us
  • A Soviet Physicist Once Survived A Proton Beam Through The Head – This Is How
  • Outstanding Photos Show First Baby Planet Growing In The Grooves Of A Stellar Disk
  • The “Plague Of Justinian” May Have Been The First Pandemic. DNA At A Mass Grave Has Finally Identified Its Cause.
  • Michelson And Morley’s “Failed” 1887 Experiment Changed The Course Of Physics, And Put The Aether To Bed
  • Only 19 US States Require School Sex Education To Be Medically Accurate, Finds Sweeping Review
  • Do Any Frogs Or Toads Give Birth To Live Young? Just One: Meet The Western Nimba Toad
  • Tasmanian Tigers’ Genetics May Have Doomed Them Long Before Humans Came Along
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version