Reuters reports that according to a person familiar with the matter, China is framing rules to ban internet companies whose data poses potential security risks from listing outside the country, including in the United States. The ban is also expected to be imposed on companies involved in ideology issues.

Beijing said last month it planned to strengthen supervision of all firms listed offshore. Under the rules being drafted, the China Securities Regulatory Commission (CSRC) plans to ban firms, which collect vast amount of data from users or create content, from overseas listings.

The plan is one of several proposals under consideration by Chinese regulators as Beijing has tightened its grip on the country's internet platforms in recent months, including looking to sharpen scrutiny of overseas listings.