• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

What To Expect When Quitting Alcohol

March 6, 2026

US Lost Jobs In February, Showing Weaker Economy Than Expected

March 6, 2026

110 Funny Anniversary Quotes and Messages That Will Make You Laugh

March 6, 2026
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Saturday, March 7
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    US Lost Jobs In February, Showing Weaker Economy Than Expected

    March 6, 2026

    Trump Cuts Off Trade To Spain After Nation Bucked US On Iran War

    March 3, 2026

    Ford Recalls Over 4,000,000 Vehicles For Software Glitch

    February 26, 2026

    Jamieson Greer Says Trump Still Has ‘Very Durable Tools’ For Tariffs, Trade Deals

    February 22, 2026

    Scott Bessent Lays Out Future Of Trump’s Tariffs, Trade Deals

    February 22, 2026
  • Finance

    How Long Can Kyrgyzstan’s Economic Boom Keep Booming?

    February 18, 2026

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»China plans to ease one of the biggest hurdles for foreign business
Finance

China plans to ease one of the biggest hurdles for foreign business

October 6, 2023No Comments5 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
China plans to ease one of the biggest hurdles for foreign business
Share
Facebook Twitter LinkedIn Pinterest Email

Pictured here is an exhibition on big data for transportation in Chongqing on Oct. 21, 2020.

China News Service | China News Service | Getty Images

BEIJING — Chinese authorities are signaling a softer stance on once-stringent data rules, among recent moves to ease regulation for business, especially foreign ones.

Over the last few years, China has tightened control of data collection and export with new laws. But foreign businesses have found it difficult to comply — if not operate — due to vague wording on terms such as “important data.”

Now, in a proposed update, the Cyberspace Administration of China (CAC) has said no government oversight is needed for data exports if regulators haven’t stipulated that it qualifies as “important.”

That’s according to draft rules released late Sept. 28, a day before the country went on an eight-day holiday. The public comment period closes Oct. 15.

Money laundering scandal in Singapore shines light on family offices, China

“The release of the draft is seen as a signal from the Chinese Government that it is listening to businesses’ concerns and is ready to take steps to address them, which is a positive,” the European Union Chamber of Commerce in China said in a statement to CNBC.

“The draft regulation relieves companies of some of the difficulties with cross-border data transfer and personal information protection partly by specifying a list of exemptions to relevant obligations and partly by providing more clarity on how data handlers can verify what is qualified by authorities as ‘important data,'” the EU Chamber said.

This is a small but important step for Beijing to show it’s walking the walk when the State Council earlier pledged to facilitate cross-border data flows…

The EU Chamber and other business organizations have lobbied the Chinese government for better operating conditions.

See also  Is Beijing ‘Internationalizing’ Cross-Strait Trade?

The cybersecurity regulator’s draft rules also said data generated during international trade, academic cooperation, manufacturing and marketing can be sent overseas without government oversight — as long as they don’t include personal information or “important data.”

“This is a small but important step for Beijing to show it’s walking the walk when the State Council earlier pledged to facilitate cross-border data flows to improve the investment climate,” Reva Goujon, director, China Corporate Advisory at Rhodium Group, said in an email Friday.

The proposed changes reflect how “Beijing is realizing that there are steep economic costs attached to its data sovereignty ideals,” Goujon said.

“Multinational corporations, particularly in data-intensive sunrise industries which Beijing is counting on to fuel new growth, cannot operate in extreme ambiguity over what will be considered ‘important data’ today versus tomorrow and whether their operations will seize up over a political whim by CAC regulators.” 

More regulatory clarity for business?

China’s economic rebound from Covid-19 has slowed since April. News of a few raids on foreign consultancies earlier this year, ahead of the implementation of an updated anti-espionage law, added to uncertainties for multinationals.

“When economic times were good, Beijing felt confident in asserting a stringent data security regime in the footsteps of the EU and with the US lagging behind in this regulatory realm (for example, heavy state oversight of cross-border data flows and strict data localization requirements),” Rhodium Group’s Goujon said.

The country’s top executive body, the State Council, in August revealed a 24-point plan for supporting foreign business operations in the country.

See also  China Shadow Bank Misses Dozens of Payments as Risks Grow

The text included a call to reduce the frequency of random inspections for companies with low credit risk, and promoting data flows with “green channels” for certain foreign businesses.

During consultancy Teneo’s recent trip to China, the firm found that “foreign business sources were largely unexcited about the plan, noting that it consists mostly of vague commitments or repackaging of existing policies, but some will be useful at the margin,” managing director Gabriel Wildau said in a note.

He added that “the 24-point plan included a commitment to clarify the definition of ‘produced in China’ so that foreign companies’ domestically made products can qualify.”

When U.S. Commerce Secretary Gina Raimondo visited China in August, she called for more action to improve predictability for U.S. businesses in China. Referring to the State Council’s 24 points, she said: “Any one of those could be addressed as a way to show action.”

The U.S.-China Business Council’s latest annual survey found the second-biggest challenge for members this year was around data, personal information and cybersecurity rules. The first challenge they cited was international and domestic politics.

Read more about China from CNBC Pro

The council was not available for comment due to the holiday in China.

While the proposed data rules lower regulatory risk, they don’t eliminate it because “important data” remains undefined — and subject to Beijing’s determination at any time, Martin Chorzempa, senior fellow at the Peterson Institute for International Economics, and Samm Sacks, senior fellow at Yale Law School Paul Tsai China Center and New America, said in a PIIE blog post Tuesday.

See also  U.S. Commerce Secretary set to visit China as high-level talks continue

Still, “not only did the leadership commit to a more ‘transparent and predictable’ approach to technology regulation in the wake of the tech crackdown, the new regulations follow directly on the State Council’s 24 measures unveiled in August, which explicitly call for free data flows. Other concrete actions to improve the business environment could flow from those measures as well,” Chorzempa and Sacks said.

The proposed changes to data export controls follow an easing in recent months on other regulation.

In artificial intelligence, Baidu and other Chinese companies in late August were finally able to launch generative AI chatbots to the public, after Beijing’s “interim regulation” for the management of such services took effect on Aug. 15.

The new version of the AI rules said they would not apply to companies developing the tech as long as the product was not available to the mass public. That’s more relaxed than a draft released in April that said forthcoming rules would apply even at the research stage.

The latest version of the AI rules also did not include a blanket license requirement, only saying that one was needed if stipulated by law and regulations. It did not specify which ones.

Earlier in August, Baidu CEO Robin Li had called the new rules “more pro-innovation than regulation.” 

Biggest Business China ease Foreign hurdles Plans
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Foreign Auto Giant Makes Big Change Following Trump Tariff Onslaught

February 19, 2026

Barron Trump Reportedly Teams Up With High School Buddies For Major Business Launch

February 19, 2026

How Long Can Kyrgyzstan’s Economic Boom Keep Booming?

February 18, 2026

JB Pritzker’s Cousin Steps Down From Family Business Over Epstein Ties

February 18, 2026
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Health Insurance Costs Expected To See Highest Increase In Over A Decade

September 7, 2023

Tesla builds first Cybertruck after two years of delays

July 16, 2023

Cryptocurrency Crumble: Bitcoin Falls, Smaller Digital Coins Plunge In Wake Of SEC Crackdown

June 10, 2023

Bank of America most favored for activism defense in H1 2023 – LSEG data

September 7, 2023
Don't Miss

What To Expect When Quitting Alcohol

Lifestyle March 6, 2026

Quitting alcohol may not be the hardest thing a person does, but it will not…

US Lost Jobs In February, Showing Weaker Economy Than Expected

March 6, 2026

110 Funny Anniversary Quotes and Messages That Will Make You Laugh

March 6, 2026

Trump Cuts Off Trade To Spain After Nation Bucked US On Iran War

March 3, 2026
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,307)
  • Entertainment (4,220)
  • Finance (3,203)
  • Health (1,938)
  • Lifestyle (1,840)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Sam Bankman-Fried Uses Fish to Trade for Prison Haircuts

November 25, 2023

Prince Andrew ‘In Despair’ After King Charles Was Left All Inheritance

March 12, 2023

Nike soars on first quarter earnings, confidence in Chinese consumer regardless of ‘macroeconomic outlook’

September 28, 2023
Popular Posts

What To Expect When Quitting Alcohol

March 6, 2026

US Lost Jobs In February, Showing Weaker Economy Than Expected

March 6, 2026

110 Funny Anniversary Quotes and Messages That Will Make You Laugh

March 6, 2026
© 2026 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.