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China pledges crackdown on companies abroad

bynewsdesk
July 7, 2021

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Law360 (July 6, 2021, 7:12 PM EDT) — The Chinese government pledged Tuesday to tighten more scrutiny on companies that list their shares abroad, a statement following high-profile U.S. IPOs of Chinese companies that have since been under investigation for alleged violations of data security rules.

The guidelines, based on a joint paper by two Chinese agencies and reported by the state-run Xinhua News Agency, promise that China will crack down on illicit securities activities to maintain orderly capital markets. The document specifically promises to better protect confidential information of Chinese companies whose securities are listed abroad, plus China said it will improve cross-border cooperation with international governments…

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