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Volkswagen's China chief told Premier Li Qiang last year that it needed more clarity on cross-border data transfers, saying the transformation of the auto sector is dependent on the international ...
The Cross-border Interbank Payment System (CIPS) is a Chinese payment system that offers clearing and settlement services for its participants in cross-border renminbi (RMB) payments and trade. CIPS is backed by the People's Bank of China and was launched in 2015 as part of a policy effort to internationalize the use of China’s currency.
China should allow cross-border sharing of information by financial firms operating in the country, a leading financial lobby group said, as authorities tighten control of data generated within ...
On September 28, 2023, the Cyberspace Administration of China (CAC) issued the draft Provisions on the Regulation and Promotion of Cross-Border Data Flows. In the draft, CAC stated no government oversight is needed for data exports if regulators haven't stipulated that it qualifies as “important.” [6] [7]
The EU's General Data Protection Regulation contains extensive regulation of data flow and storage, including restrictions on exporting personal data outside of the EU. To counter the protectionist impulses of the EU and other countries, a number of regional free trade agreements prohibit data localization requirements and restrictions on cross ...
Jul.06 -- Angela Zhang, director of the Centre for Chinese Law at the University of Hong Kong and author of "Chinese Antitrust Exceptionalism: How the Rise of China Challenges Global Regulation ...
It serves as the executive arm of the CCP CCAC, has regulatory power over online content, is responsible for protecting personal information and data, and has direct authority over China's DNS registry, China's computer emergency response team, the cybersecurity standardization body TC260, and the Cybersecurity Association of China. [22]
Companies in Shenzhen in mainland China made up one-third of the transaction volume in a cross-border central bank digital currency (CBDC) bridge pilot project, according to a report by Chinese ...