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China to ban loophole used by tech firms for foreign IPOs - Bloomberg News

China to ban loophole used by tech firms for foreign IPOs - Bloomberg News
China to ban loophole used by tech firms for foreign IPOs - Bloomberg News   -   Copyright  Thomson Reuters 2021
By Reuters

– China is planning to ban companies from going public on foreign stock markets through variable interest entities, closing a loophole used by the country’s tech industry to raise capital from overseas investors, Bloomberg News reported on Wednesday, citing people familiar with the matter.