Citation :
According to sources, Chinese regulators are considering requiring data-rich companies to hand over management and supervision of their data to third-party firms if they want US stock listings. According to one of the people familiar with the matter, regulators believe that bringing in third-party information security firms, ideally state-backed, to manage and monitor IPO hopefuls' data could effectively limit their ability to transfer Chinese onshore data overseas. This would help alleviate Beijing's growing concerns that a foreign listing would force such Chinese companies to hand over some of their data to foreign entities, jeopardizing national security, the person added. A formal framework on the topic of data transfer might be given in September
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