Beijing’s mandated cybersecurity review for overseas listings aims to address a perceived danger stemming from US access to “sensitive” data from public Chinese tech firms, according to a Chinese expert whose opinions were endorsed and published by the Cyberspace Administration of China (CAC).
The published view of Hu Ying, who heads the data security department at the China Electronics Standardization Institute, a research agency under China’s Ministry of Industry and Information Technology, offers more insight into the driving force behind Beijing’s decision to require a security review before foreign initial public offerings. It also gives context to the cyberspace watchdog’s investigation into Didi Chuxing, launched just days after the ride-hailing giant’s listing on the New York Stock Exchange.