China's cross-border data sharing requirements: Compliance challenges for global institutions

Eugenie Shen and Alex Roberts
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Eugenie Shen: Managing Director, Head of Asset Management Group, Asia Securities Industry & Financial Markets Association (ASIFMA), Hong Kong
Alex Roberts: Counsel, Linklaters Shanghai Office, China

Journal of Financial Compliance, 2023, vol. 6, issue 3, 198-212

Abstract: To protect public and societal interest, ensure network security and safeguard national security, China has passed a series of data security and data protection laws in the past few years which, due to the cross-border data transfer or sharing restrictions under these laws, pose particular challenges for global institutions, especially financial institutions, which need information from their subsidiaries or counterparts in China. This paper summarises the three principal laws that govern the collection, storage, transfer and use of data within China and what global institutions with connections to China need to know.

Keywords: data security; data privacy; data transfer; personal information; Cyberspace Administration of China (CAC); China Securities and Regulatory Commission (CSRC) (search for similar items in EconPapers)
JEL-codes: E5 G2 K2 (search for similar items in EconPapers)
Date: 2023
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