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China to Rein in U.S. IPOs by Entertainment Companies
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variety.comPatrick Frater Asia Bureau ChiefThe Chinese government on Saturday announced tough new rules that will limit mainland tech firms listing on U.S.
stock markets. Surprisingly, this looks like being an area where the two superpowers are likely to agree.The move will prevent a repeat of the embarrassing incident that took place this month where ride hailing giant Didi Chuxing listed in New York, but was twice struck down by regulatory penalties within a week of its IPO.The new rules, however, may crimp young, fast-moving Chinese tech and entertainment companies which find a U.S.
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