Beijing, Dec 1, 2021 (AFP): Beijing on Wednesday denied a report that it was looking to plug a loophole used by Chinese tech companies to go public on foreign stock markets.
Bloomberg News reported, citing unnamed people familiar with the matter, that China was planning to ban firms from using offshore structures known as variable interest entities (VIE), closing a gap used by tech giants such as Alibaba and Tencent in recent decades to avoid restrictions on foreign investment and listings abroad.
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