The mayor himself
Official account of WeChat: Mayor of Dashu.
There is a new word recently: network security review.
Everyone has a deeper understanding of anti-monopoly investigation. What is cyber security review, and why does it seem to be especially targeted at companies listed in the United States?
This matter should be considered from the perspective of the whole international environment, especially the game between China and the United States, such as the Sino-US negotiations that are bound to take place in the second half of the year.
Recently, there are many opinions about network security censorship, but some of them are ridiculous. The town has always believed that enterprises should be treated equally, criticized without rumors, cracked down on unjust enrichment but protected the legitimate interests of enterprises.
It is really not advisable to spread rumors and criticize public opinion; If such rumors cause damage to the legitimate interests of enterprises, they should also pay the price.
Let's start with a few typical rumors:
The first one: the company sells domestic data to the United States in exchange for listing in the United States.
This rumor is too low-level. Most of the Chinese enterprises that want to go public in the United States are still in China, which is self-defeating. Listing in the United States itself is relatively simple, and there is no need to do so.
What's more, don't underestimate the deterrent power of China administration. China and the United States are both world powers. If a company does such a thing, China will definitely pursue it to the end, even if it makes concessions in some aspects. There is no need for the United States to protect minorities.
Therefore, this rumor can be stopped, and enterprises growing up in China will never be confused about the red line.
Second, some people question that listing in the United States by China enterprises will harm China's interests.
Why some companies go public in the United States is related to the VIE structure. The cost of dismantling VIE architecture and listing in China is about 3% of the previous valuation. If the previous valuation was $65.438+0 billion, the cost would be about RMB 2 billion, which is indeed a lot, but it is not unacceptable.
Compared with the cost of capital, the domestic listing review is far stricter than that in the United States, and the cycle is too long. The influence of uncertain factors is a bigger factor.
The more important reason is that foreign investors need to cash out. China's current capital supervision is too strict. If listed in China, foreign investors can only get RMB, and the premium in Hong Kong is too low.
Generally speaking, China enterprises are happy to go public in the United States. After all, the business is listed in China and the United States. It is also good for China to develop China with foreigners' money.
Let's briefly analyze what the network security review is looking for.
Draw a direct conclusion: the focus of the audit is not what the enterprise has done, but whether the enterprise has the ability to do a good job in information security protection.
Take these days as an example:
1. This is the first time that the regulatory authorities initiated a network security review, and it was initiated ex officio. The enterprises under investigation are identified as the operators of key information infrastructure and need to conduct network security review.
2. The network security review method is a method biased towards technical review, focusing on reviewing "the procurement of network products and services by key information infrastructure operators, which affects or may affect national security".
3. The enterprise under investigation may be investigated for "the risk that the key information infrastructure brought by the use of products and services is illegally controlled, interfered or destroyed, and important data is stolen, leaked or destroyed".
4. The system operation of the inspected enterprise will inevitably purchase a large number of network equipment and services provided by multiple suppliers, and whether there are information security problems will be the focus of the review.
5. As it is the first time to enable network security review, the regulatory authorities need to determine some basic principles, and it is very likely that special review procedures need to be initiated, which will be approved by the Central Network Security and Informatization Committee. The review time is estimated to be more than 3 months, which may last until the end of 20021,which is also related to the negotiation time between China and the United States.
As for the results and final impact of the review, I won't talk about it today.
Why are you checking these? For example.
With the development of the Internet, more and more users' personal information is obtained, such as a person's itinerary, resume, chat records or recordings. According to this information, we can analyze many things, such as what characteristics some people have, where they go every day, where they live, who they are in contact with, and so on.
Once this information reaches an order of magnitude, it will have strategic value and make a country transparent. It's not that we have done it or not, but that we must pay attention to the risks.
Of course, we believe that enterprises growing up in China will not have the courage and need to disclose these data, but in the face of foreign national forces, can our enterprises protect these data? How to ensure that the company's own employees will not have problems? Are there any problems with the related equipment and services to maintain the operation?
These are the focus of this review.
When China enterprises go public in the United States, they will also face a difficult problem: The Foreign Corporate Responsibility Act passed by the United States clearly requires companies listed in the United States to prove that they are not owned or controlled by foreign governments, and relevant US departments can require enterprises to provide listing audit documents and related data, so how to deal with it will be a very difficult decision.
In contrast, anti-monopoly is only a matter in the field of market economy.
Finally, I would like to remind entrepreneurs who are interested in listing or overseas development that China is already a world power. In addition to industry and commerce, we should also consider national strategies and policies, and some enterprises should also consider international factors.
Times have changed. Only by avoiding misjudgment as much as possible can enterprises develop better.