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China is imposing restrictions on businesses that want to go public on the other side of Chinese IPOs in the US. Managers have invested in local companies by announcing new privacy policies for those seeking foreign company lists, according to Reuters. As a result, any company with information on more than a million clients must meet and be monitored on how it handles the information in order to obtain approval from an external IPO.
Supervisors have assessed the risks of the allegations being affected, directed or compromised by foreign governments in accordance with international standards. In an effort to get companies to register locally, China is adding two laws that focus on data security and protection in the Security Law and Personal Information Protection Law.
The crisis comes in the wake of a secret crisis with Beijing. The former directors have confiscated their sabers from TikTok and LinkedIn for breach of data collection. Last week, authorities criticized people for ordering a passing giant Didi to remove its app in retail stores based on US data, which resulted in its shares starting to fall by 20%.
With tensions between US-China still pending, the election will help President Biden revisit Chinese businesses. The animosity created by the Trump administration has ended in recent months of China’s ouster Xiaomi and Luokung Technology from the military list, which prevents Americans from buying and owning their shares. The expected cooperation with Biden must have led to a recent increase in the list of Chinese groups. Last year, Chinese businesses made $ 11.7 billion through Ma IPO 30 in the US, that’s what’s happening this year.
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