China’s foreign listing regulations that mandate cybersecurity reviews apply to Hong Kong, experts say

  • The CAC has not officially clarified whether a listing in Hong Kong requires a cybersecurity review, but it posted the expert assessments on its website
  • New listings in Hong Kong are subject to the ‘relevant provisions of the security review’, even though the city was not mentioned in the law, one expert said

Electronic billboards display stock transactions outside the Hong Kong stock exchange, November 30, 2021. Photo: EPA-EFE

Chinese companies handling data from more than 1 million users are required to go through a cybersecurity review if they want to list overseas, and that includes Hong Kong, according to an assessment endorsed by China’s cyberspace watchdog.

The conclusion, included in the “expert views” that the Cyberspace Administration of China (CAC) published on its website, shows how the regulator is empowering itself to be a key gatekeeper of overseas listings even though the new law, which came into effect this week, does not specifically mention Hong Kong.

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