securities regulator began a rollout of rules that would exclude foreign companies from U.S. channel for the latest updates.HONG KONG, Sept 20 Didi Global Inc co-founder and President Jean Liu has told some close associates that she intends to step down, two sources familiar with the matter said, as the Chinese ride-hailing giant faces intense regulatory scrutiny following its New York listing earlier this year. regulators will potentially gain greater access to audit documents of Chinese companies listed in New York, notably those that involve massive user or national data. "Domestic regulators have become more uncomfortable with Chinese media, content firms which operate in the country and obtain voluminous user data, but are incorporated offshore and now seek overseas listings," one of the sources said.Īnother of the sources said that the Ximalaya move also comes amid Beijing's growing concerns that U.S. Chinese fitness app Keep, podcasting platform Ximalaya, medical solution provider LinkDoc reportedly canceled their US IPO plans after Didi debacle.Details: Keep did not go ahead with its planned public filing while its bankers at Morgan Stanley canceled marketing meetings with investors this week, Financial Times reported, citing people familiar with the matter. tensions.Ĭhina's ruling Communist Party (CCP) has long maintained a tight grip over ideology and propaganda, especially over state media which it can use to assert its authority. The potential change of venue comes as China further tightens its ideological grip on private media and internet businesses amid China-U.S. IPO in late April, has started pre-marketing the float since early May and looked to raise about $500 million, said two of the sources. On July 2, the Cyberspace Administration of China announced that it was placing Didi under investigation over data security concerns and. Shanghai-based Ximalaya, which filed publicly for the U.S. New Chinese regulations rolled out in the wake of Didi’s disastrous launch mandate cybersecurity reviews to ensure the safety of user data before Chinese tech companies will be allowed to go public overseas. The CAC and Ximalaya did not respond to requests for comment. Ximalaya, the country's top podcast and audio app operator which aimed to go public in New.
It will make a final decision about the listing venue within the next two weeks, they added. China is pressing the country's largest online audio platform Ximalaya to drop plans to list in the United States and go for Hong Kong instead, three people with knowledge of the matter said, showing how the authorities are seeking to further tighten their grip over private media and internet businesses.
0 kommentar(er)
