Reuters
An obscure bureaucratic office in Beijing has emerged as one of the most feared government institutions for China s Big Tech as Beijing clamps down on what it sees as cybersecurity risks in the internet sector.
The Cyber Security Review Office was created last year as a joint task force by 12 Chinese ministries, including the Ministry of Public Security and the Ministry of National Security, to look into cybersecurity risks. The state has a cybersecurity review requirement, and this office was created to get the job done, one Beijing-based regulatory source who has direct knowledge of the matter said.
The office, under the Cyberspace Administration of China (CAC), had been out of public view for a year until last week when it dropped the bombshell that it was putting ride-hailing giant Didi Chuxing under review over possible data security and national security risks.
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by Tyler Durden
Saturday, Jul 10, 2021 - 08:00 PM
China s unprecedented crackdown on its burgeoning (for now) tech industry just won t stop and overnight, China s Cyberspace Administration of China - the same entity responsible for the crackdown on Didi - proposed new rules that would require nearly all companies seeking to list in foreign countries to undergo a cybersecurity review, a move that would significantly tighten oversight over its internet giants.
tech platform companies that possess the personal data of at least 1 million users will have to apply for approval from the Cybersecurity Review Office, a group backed by 12 powerful Chinese ministries, if they plan an IPO in a foreign market according to a draft of the updated version of Beijing’s Measures for Cybersecurity Review published on Saturday, which is open for feedback until July 25.