China seeks review of cos listing abroad

China’s cyberspace regulator has said that any company with data of more than 1 million users must undergo a security review before listing its shares overseas. The decision is a part of China broadening clampdown on its large “platform economy”. The security review would put a focus on risks of data being affected, controlled or manipulated by foreign governments after overseas listings, the Cyberspace Administration of China (CAC) has said. China’s cyberspace regulators are imposing tighter restrictions on data collection and data storage, while authorities are more broadly pushing for companies to list domestically.