(WSJ) China Securities Regulatory Commission is planning to bring a new proposal that will limit companies with sensitive consumer data from going public in the US.
Officials from the commission have said that the new rule is mostly meant to control companies with units registered out of the country.
In the new regulations, a cross-ministry committee will be formed to approve companies for the initial listings overseas.
The committee will have CSRC members, internet regulators, and ministry officials.
The CSRC, which is currently planning to implement the rules during the last quarter, has since asked companies to hold any US IPO plans until further notice.
It is still unknown whether new companies already listed overseas under the VIE structure will be affected.
CSI 300 is up +0.53%, USDCNY is down -0.12%.
