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China reportedly weighs ban on U.S. IPOs from domestic tech companies with sensitive data

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Investors watch an electric screen displaying stock price figures at a stock exchange hall on February 18, 2021 in Shanghai, China.

VCG | Visual China Group | Getty Images

Beijing is eyeing new rules that would restrict domestic internet companies to go public in the U.S., the Wall Street Journal reported on Friday.

Chinese regulators are specifically targeting tech firms with user-related data, and companies that are less data-heavy such as pharmaceuticals could be insulated from the IPO ban, the Journal reported, citing people familiar with the matter.

Shares of Alibaba fell nearly 3% in premarket trading on Friday after losing 15% this month alone. The Invesco Golden Dragon China ETF…



Source cnbc.com

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