China Proposes Cyber Review For Select Hong Kong IPOs - Alibaba Gr Holding (NYSE:BABA), Tencent Holdings (OTC:TCEHY)

Cyberspace Administration of China proposed requiring companies pursuing Hong Kong IPOs to apply for cybersecurity inspections if they handle data that concerns national security, Reuters reports.
The diktat mandates large internet platforms to report to regulators before setting up headquarters, operating, or research centers abroad.
The document, published on the regulator's Tencent Holdings Ltd TCEHY WeChat account website, sought public comment on internet platforms formulating privacy policies or making amending rules that could significantly affect user rights and interests.
Firms with over 100 million daily active users would require to review changes by third-party agencies and obtain government approval.
Companies that provide instant messaging services need to stop prohibiting users from accessing other or transferring files to other Internet platforms.
Alibaba Group Holding Ltd's BABA Ant Group features amongst significant domestic companies harboring IPO ambitions.
Price Action: BABA shares traded higher by 0.17% at $167.09 in the market session on the last check Monday.