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China tightens foreign IPOs, may ban some of the national security

(Bloomberg) – China plans to tighten controls on foreign stock sales by domestic companies and ban those whose listing could pose a threat to national security.
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All Chinese companies seeking initial public offerings and additional overseas share sales would have to register with the China Securities Regulatory Commission, according to a consultation paper released late Friday.
Under the proposals, firms whose listing on foreign exchanges could threaten national security will be banned from selling shares and firms whose activities raise cybersecurity concerns will be subject to security audits.
“Improving oversight of overseas listed companies comes with the opening of capital markets, and the rules are designed to enable healthier, more sustainable and longer-term development,” said the CSRC. “The direction of the opening remains intact.”
The changes would be the latest move by President Xi Jinping’s administration to crack down on foreign listings after …

China tightens foreign IPOs, may ban some of the national security comes via ChinaTechNews.com.

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