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Exclusive-China eyes pushing U.S. IPO-bound firms to hand over data control -sources

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Reuters

By Julie Zhu and Scott Murdoch HONG KONG (Reuters) -Chinese regulators are considering pressing data-rich companies to hand over management and supervision of their data to third-party firms if they want U.S. stock listings, sources said, as part of Beijing’s unprecedented scrutiny of private sector firms. The regulators believe 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, one of the people said. That would help ease Beijing’s growing concerns t…

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