Just Earth News | @justearthnews | 28 Dec 2021, 11:43 am Print
Imge: File photo from Wikimedia Creative Commons
Beijing: China has been planning to increase restrictions for Chinese companies that want to list abroad.
Beijing won't ban them from trading abroad altogether, but life might be getting a lot tougher for firms hoping to score more foreign investment, reports CNN.
China's securities regulator proposed late Friday that any firm that wants to go public in another country has to register with the agency first, and then meet a set of requirements set forth by government officials, the American media outlet reported.
"Domestic enterprises issuing and listing overseas shall strictly abide by laws, regulations and relevant provisions on national security such as foreign investment, cybersecurity and data security, and earnestly fulfill the obligations of national security protection," the China Securities Regulatory Commission said in its proposal as quoted by CNN.
- Automobile giant Tesla likely to remove 10 percent of its workforce
- Crypto market tanks amid Middle East crisis
- Elon Musk's Tesla inks strategic deal with India's Tata Electronics to procure semi-conductor chips
- Apple plans to reduce 614 workers in California
- Tech major Apple to open its new Shanghai store on Thursday