A sign above an office of the Cyberspace Administration of China (CAC) is seen in Beijing, China July 8, 2021. REUTERS/Thomas Peter
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- China’s cyberspace regulator denies issuing guidelines
- Sources say CAC has drafted new rules for large internet firms
- Big firms to need approval for investments, fundraisings
- Sources say draft rules still subject to change
- Chinese regulators have stepped up oversight of tech sector in past year
HONG KONG/BEIJING, Jan 19 (Reuters) – China’s cyberspace regulator denied on Wednesday issuing a document with new guidelines for the nation’s big internet companies that would require them to seek approval for new investments and fundraising.
The denial came after a document appeared on Chinese social media detailing such guidelines.
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