China's Security Review Before Overseas Listing of Platform Companies with Over 1 Million Subscribers
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[Asia Economy Reporter Park Byung-hee] Major foreign media reported on the 4th (local time) that China announced new measures regulating overseas listings of companies.
The Cyberspace Administration of China (CAC) stated that platform companies with over one million users planning to list on overseas markets must undergo a security review by authorities before listing. CAC announced that this regulation will take effect from February 15.
With the implementation of this measure, a significant number of platform companies are expected to undergo government scrutiny before overseas listings.
This follows last year's strong regulatory measures imposed by China on companies listing overseas, signaling that regulations will continue into the new year.
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CAC also announced that from March 1, it will enforce separate rules controlling the use of algorithm recommendation technologies.
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