Chinese lifestyle platform Xiaohongshu, known as 'Little Red Book', puts its US IPO on hold amid Beijing's crackdown | South China Morning Post

Chinese social media and lifestyle platform Xiaohongshu has put its planned initial public offering in the United States on hold after Beijing announced plans to increase its scrutiny of foreign listings by the country's high-flying technology sector, according to people familiar with the matter. The company, also know as "Little Red Book", is evaluating its next steps after the Cyberspace Administration of China (CAC) said it would review all foreign IPOs by technology platforms in China that possess the personal data of at least 1 million users, said the people, who were not authorised to discuss the matter publicly. Xiaohongshu…