China plans to ban overseas IPOs for tech firms with data security risks -source

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(Reuters) -China is framing rules to ban internet companies whose data poses potential security risks from listing outside the country, including in the United States, according to a person familiar with the matter.
The ban is also expected to be imposed on companies involved in ideology issues, said the person, declining to be identified as the matter is private.
Beijing said last month it planned to strengthen supervision of all firms listed offshore, a sweeping regulatory shift that came after a cybersecurity investigation into ride-hailing giant Didi Global Inc just days after its U.S. listing.
Under the planned rules, the Chinese securities regulator would tighten scrutiny of overseas IPO-bound firms and ban those that collect vast amount of users data or create content that could pose possible security risks, said the person.
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