China plans for almost all companies to undergo cybersecurity checks before a possible overseas listing in the future. According to a regulatory proposal by China’s cyber regulator, all companies that hold data of more than one million users will have to apply for data security approval before listing overseas, Bloomberg news agency reports. There is a risk that such data and personal information could be “influenced, controlled and maliciously exploited by foreign governments,” according to the agency. The cybersecurity review will also examine the potential national security risks posed by overseas IPOs. According to the South China Morning Post, the review will be conducted by the Cybersecurity Review Office, which is backed by 12 powerful Chinese ministries.
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