China to require review of overseas IPOs by companies with data on 1m users

Move is part of Cyberspace Administration's revision of network safety measures

The Cyberspace Administration of China has begun a revision of its network safety review measures, including a proposal that companies holding the personal information of over 1 million individuals must undergo a security review when listing overseas. © Reuters

NORIYUKI DOI and NAOKI MATSUDA, Nikkei staff writers

July 10, 2021 17:44 JST

Updated on July 10, 2021 18:27 JST

SHANGHAI -- Chinese companies seeking to list overseas will be subjected to regulatory screening by Beijing authorities if they have 1 million or more users with registered personal information, the country's internet regulator said on Saturday.