China plans to propose rules that would ban companies with large volumes of sensitive consumer data from listing in the US, people familiar with the matter told the Wall Street Journal.
Officials from China’s stock regulator told some companies and foreign investors the rules will target companies seeking listings via units incorporated outside the country, the WSJ reported, citing the people. China Securities Regulatory Commission officials also said companies with less sensitive data, such as those in the pharmaceutical industry, are still likely to receive approval for foreign listings, the report said. Full story: Wall Street Journal.
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