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Jan 6, 2022 · China will implement a more stringent cybersecurity review process next month for data-rich companies seeking “foreign listings” (国外上市) as regulators step up scrutiny over the troves of data that underpin the growing influence of domestic internet companies. The revamped Measures for Cybersecurity Review (link in Chinese), unveiled ...
- Background
- Highlights of Key Changes
- Conclusion
The concept of security review was first introduced into law by the Cyber Security Law (CSL), which requires operators of critical information infrastructure (CII) to apply for national security review on their procurement of network product and services if it may impact national security. Shortly before the CSL took effect, the CAC published the M...
The Measures extend the scope of cybersecurity review from procurement by CII operators to also include data processing activities by network platform operators (NPOs) that impact or may impact national security. We set out below some key issues. Who are NPOs? The Measures fail to define NPOs. In fact, we have not seen this concept in any other reg...
The Measures have extended the cybersecurity review to processing of core data, important data and personal information by the NPOs. In particular, NPOs that intend to list outside of China will now need to apply for cybersecurity review over their listings if they process personal information of over one million users. Despite that the scopes of C...
Jul 23, 2021 · The proposed new requirement for Chinese companies to submit for IPO Cybersecurity Review would create uncertainty and risk of delay for their “foreign country” IPOs. Under the proposed amendments, the IPO Cybersecurity Review can take up to 70 business days for a general review and up to six months in aggregate if a special review is required.
Jul 12, 2021 · Proposed revisions to China’s cybersecurity review process would require companies that control data of more than 1 million users to seek permission from regulators before filing for IPOs overseas. China’s cyberspace authority proposed a series of revisions to the cybersecurity review rules Saturday. Why it matters: The proposal came a week ...
- Qin Chen
Jan 6, 2022 · Cybersecurity / Caixin explains: What China’s new cybersecurity review rules mean for IPOs. China will implement a more stringent cybersecurity review process next month for data-rich companies seeking “foreign listings” (国外上市) as regulators step up scrutiny over the troves of data that underpin the growing influence of domestic internet companies.
Jul 10, 2021 · Chinese tech firms with more than 1 million users will face a cybersecurity review before being allowed to list in the US under tighter rules imposed in the wake of Didi IPO.
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Jul 10, 2021 · So far this year, 37 Chinese companies have listed in the U.S., surpassing last year’s count, and raised a combined $12.9 billion, according to data compiled by Bloomberg. “These rules will ...
