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China steps up supervision of overseas-listed firms after Didi IPO drama


Publishing date: Jul 06, 2021  •  2 hours ago  •  2 minute read  • 
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BEIJING China will step up supervision of Chinese firms listed offshore, its cabinet said on Tuesday, days after Beijing launched a cybersecurity investigation into ride-hailing giant Didi Global Inc on the heels of its U.S. stock market listing.
Under the new measures, China will improve regulation of cross-border data flows and security, crack down on illegal activity in the securities market and punish fraudulent securities issuance, market manipulation and insider trading, China’s cabinet said in a statement.
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