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China to Ban US IPOs for Data-Rich Tech Firms: WSJ

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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Kevin Hamlin

Kevin Hamlin is a financial journalist with more than 40 years of experience covering Asia. Before joining Asia Financial, Kevin worked for Bloomberg News, spending 12 years as Senior China Economy Reporter in Beijing. Prior to that, he was Asia Bureau Chief of Institutional Investor for ten years.

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