» Chinese Regulators Nudge Didi Toward Hong Kong Listing - WSJ wsj.com/articles/chine…
Enticing Chinese tech companies trading abroad to list at home or in Hong Kong has been a national priority in recent years. Beijing is concerned that data-rich companies could pose political or national security risks by answering to regulators in the U.S.
Chinese authorities are planning to propose new rules that would ban companies with large amounts of sensitive consumer data from going public in the U.S., The Wall Street Journal has previously reported.
Full Truck Alliance, which provides Uber-like services for China’s trucking industry, is already in the process of exploring an offering in Hong Kong, two people close to the matter said.
Beijing’s campaign to crack the whip on domestic technology companies has already deterred global investors from financing Chinese internet startups and has led to a wave of Chinese tech firms refraining from pursuing listings in the U.S.
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