SEC sets new rules for Chinese IPOs

The US Securities and Exchange Commission has started to issue new disclosure requirements to Chinese companies seeking to list in New York.

Last month, SEC Chair Gary Gensler asked for a "pause" in US initial public offerings of Chinese companies and sought more transparency about these issues.

The SEC has also provided disclosure requirements pertaining to the risk of Chinese regulators intervening with company data security policies.

Last month, just days after Didi Global's blockbuster IPO, Chinese regulators banned the ride-sharing giant from signing up new users. Now, Didi has suspended its plans to launch in Britain and continental Europe, according to reports.

Meanwhile, Shenzhen IVPS Technology, the firm behind e-cigarette device Smok, is considering an IPO to raise at least US$500 million in Hong Kong as soon as next year. And Wanda Light Asset is one step closer to its overseas share sale to raise at least US$3 billion in Hong Kong since China's securities watchdog has received its application.