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

What is a perpetual DEX? A Wall Street primer featuring Decibel

May 13, 2026

A look inside a North Country primary feud

May 13, 2026

Pop Star Hayley Williams Declares ‘F**k ICE,’ ‘Free Palestine’ at Concert

May 13, 2026
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Wednesday, May 13
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    A look inside a North Country primary feud

    May 13, 2026

    Have Trump And Musk Made Amends?

    May 13, 2026

    Trump Can Barely Walk As He Arrives In China With A Lumbering Thud

    May 13, 2026

    South Carolina Republicans tank redistricting, for now

    May 13, 2026

    Pennsylvania Supreme Court Justice Leaves Democratic Party

    May 13, 2026
  • Health

    Vance: $1.3B in Medicaid money to California will be deferred over fraud suspicions

    May 13, 2026

    Why Energetic Health Matters Now More Than Ever

    May 13, 2026

    The Doctor Shortage Is Getting Worse. Your Pharmacist Can Help

    May 13, 2026

    Trump DOJ intensifies push to restrict youth gender-affirming care

    May 13, 2026

    This $250 Million Startup Tracks How Cancer Reacts To Treatment In Real Time

    May 13, 2026
  • World

    Farage Says Work Begins Now to Destroy the ‘Delusional’ Establishment

    May 13, 2026

    Neil DeGrasse Tyson Ruminates On How To Handle E.T. Encounters

    May 13, 2026

    At Least Six Dead Migrants Found in Trainyard near Texas Border

    May 13, 2026

    Trump Shares AI Image Of Democrats Bathing In Feces

    May 13, 2026

    Trump Rejects Iran Reply – ‘Laughing No Longer’

    May 13, 2026
  • Business

    Another Key Inflation Measure Blows Past Forecasts

    May 13, 2026

    Prices Skyrocket To Highest Level In Years As Fallout From Iran War Continues Ravaging Economy

    May 12, 2026

    Reynolds Launches $3,200,000,000 Investment In America-Made Smokeless Nicotine

    May 8, 2026

    CEO Trolls Rival By Using Their Platform To Fund His Attempted Takeover Of Company — But They Aren’t Amused

    May 7, 2026

    Americans May Be Stuck Paying Wartime Gas Prices Long After Iran Deal

    May 7, 2026
  • Finance

    What is a perpetual DEX? A Wall Street primer featuring Decibel

    May 13, 2026

    Kevin Warsh wins Senate confirmation as the next Federal Reserve chair

    May 13, 2026

    Alibaba’s AI Business Is Booming, But Its Profits Basically Disappeared

    May 13, 2026

    Oil little changed as Trump heads to China; US oil stocks fall more than expected

    May 13, 2026

    B&G Foods positions for “transformational year” as guidance raised

    May 13, 2026
  • Tech

    EPA to Boost Reshoring, Manufacturing by Streamlining Permitting

    May 13, 2026

    ‘AI Is Here,’ ‘We Can Work With It,’ ‘You Fight It … Is a Battle We Will Lose’

    May 13, 2026

    Google Reports First Known Case of AI-Developed Zero-Day Exploit Used by Cybercriminals

    May 13, 2026

    Microsoft CEO Satya Nadella Takes the Stand to Defend Relationship with OpenAI

    May 13, 2026

    Suspect Allegedly Asked Chat GPT ‘How to Make Bomb’, Targeted Louvre

    May 13, 2026
  • 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  2022 Was a Good Year for Petronas

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  Yields Rise, Stocks Mixed After China Rate Puzzles: Markets Wrap

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  January CPI inflation rate slows to 6.4% but monthly inflation rose by 0.5%: Live updates

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

What is a perpetual DEX? A Wall Street primer featuring Decibel

May 13, 2026

Kevin Warsh wins Senate confirmation as the next Federal Reserve chair

May 13, 2026

Alibaba’s AI Business Is Booming, But Its Profits Basically Disappeared

May 13, 2026

Trump Can Barely Walk As He Arrives In China With A Lumbering Thud

May 13, 2026
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Kevin Spacey Found Not Guilty in London Sex Assault Trial

July 27, 2023

Mark Zuckerberg’s Meta Sued by 42 States for Harming Young People with Addictive Facebook, Instagram Features

October 25, 2023

Legendary Red Sox Knuckleballer Tim Wakefield Dies at 57

October 2, 2023

JPMorgan advising First Republic on strategic alternatives, including a capital raise, sources say

March 21, 2023
Don't Miss

What is a perpetual DEX? A Wall Street primer featuring Decibel

Finance May 13, 2026

Financial markets are beginning to move beyond the traditional opening bell. While stock exchanges still…

A look inside a North Country primary feud

May 13, 2026

Pop Star Hayley Williams Declares ‘F**k ICE,’ ‘Free Palestine’ at Concert

May 13, 2026

EPA to Boost Reshoring, Manufacturing by Streamlining Permitting

May 13, 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 (4,359)
  • Entertainment (4,479)
  • Finance (3,357)
  • Health (2,025)
  • Lifestyle (1,876)
  • Politics (3,212)
  • Sports (4,178)
  • Tech (2,086)
  • Uncategorized (4)
  • World (4,226)
Our Picks

China Dominates EV Market As Biden Pushes To Phase Out Combustion Engine

April 19, 2023

Mills drops out of Maine Senate race, setting up Platner to face Collins

May 2, 2026

Diesel Prices Leap Upward as Malaysia Begins Subsidy Reforms

June 11, 2024
Popular Posts

What is a perpetual DEX? A Wall Street primer featuring Decibel

May 13, 2026

A look inside a North Country primary feud

May 13, 2026

Pop Star Hayley Williams Declares ‘F**k ICE,’ ‘Free Palestine’ at Concert

May 13, 2026
© 2026 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

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