China plans to ease one of the biggest hurdles for foreign business
Publishing timestamp: 2023-10-05 22:02:51
Summary
The proposed draft of data rules in China signals a softer stance on stringent data regulations, particularly for foreign businesses. The draft states that no government oversight is needed for data exports unless it qualifies as "important data." This is seen as a positive development by business organizations, as it relieves some difficulties with cross-border data transfer and personal information protection. However, the definition of "important data" remains undefined and subject to Beijing's determination, which still poses regulatory risks. The article also mentions other recent easing of regulations in areas such as artificial intelligence.
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Keywords: stock markets, economic events, baidu inc, foreign policy, markets, china, gina raimondo, beijing, market insider, united states, business news,