China plans to tighten rules for overseas listings for the country’s fast-growing start-ups as part of a months-long regulatory campaign to reign in the tech sector.
Under the proposed guidelines, companies hoping to sell shares abroad would be required to register with the country’s securities regulator, which would review their listing plans and co-ordinate with other agencies to ensure they complied with Chinese laws, such as on data security.
The proposals would empower authorities to block companies from listing overseas if they thought the share sales would threaten national security and would also ban companies from holding international share offerings if they had internal disputes or other unsettled issues.