HONG KONG, Nov 15 (Reuters Breakingviews) - Chinese companies may have to re-route yet again. After ride-hailing service Didi Global’s (DIDI.N) U.S. initial public offering debacle in July read more , closer scrutiny of companies housing sensitive data sparked anticipation that Hong Kong’s bourse would benefit at New York’s expense. A new draft rule from the powerful Cyberspace Administration of China, however, would require a similar security review for would-be market debutants in the Asian financial hub. Many new issuers will be caught up; while having information on just 1 million users doesn’t automatically trigger an inspection as it does for foreign listings, what data might endanger national interests is vague. That could slow down, or even throw up a roadblock, for companies such as Xiaohongshu, or “Little Red Book”, an Instagram-like social-media app. It put its U.S. IPO plan on hold to pursue one in Hong Kong instead, according to Bloomberg. Others also may find a planned detour from the Big Apple to Hong Kong ultimately takes them back to Shanghai or Shenzhen. (By Yawen Chen) On Twitter http://twitter.com/breakingviews Capital Calls - More concise insights on global finance:CVC spots bargain in fund administration land grab read more Alibaba fails to curb excess in shopping fest read more Tesla money train enriches more than just CEO read more Daimler starts engine on truck M&A monster mashup read more Engie finds a measured form of green pivot read more