According to the Cyberspace Administration of China (CAC), the new rules come into effect on 15 February and will require platform companies with data on over one million users to undergo a security review before listing their shares overseas.
“With stock market listings there is a risk that key information infrastructure, core data, important data or a large amount of personal information could be impacted, controlled or maliciously used by foreign governments,” said the CAC in a statement, reiterating a concern flagged in July 2021, when the changes were first proposed.
In a separate statement, the CAC said it would also implement new rules on 1 March on the use of algorithm recommendation technology to increase oversight of news providers that use the technology to disseminate information. The rules will also give users the right to switch off the service if they choose.
Both sets of rules were proposed last year and are expected to impact a large...