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

172-year-old bank sees 400% upside for ‘federal bank’ token

September 11, 2026

Trump’s Promise Of $5,000 Checks Is Already Dead

September 11, 2026

Nashville Authorities Unanimously Vote to Rename Airport After Dolly Parton

September 11, 2026
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, September 11
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Trump’s Promise Of $5,000 Checks Is Already Dead

    September 11, 2026

    That’s It?! Here is Video of the Armed Man ‘Lunging’ at Democrat Ohio Gubernatorial Candidate Amy Acton * The Gateway Pundit * by Cristina Laila

    September 11, 2026

    British MPs Vote AGAINST Assisted Suicide Bill in Victory for Life (VIDEOS) * The Gateway Pundit * by Paul Serran

    September 11, 2026

    The US President Announced a $5,000 Bonus to All Working Americans – Here’s How It Works (VIDEO) * The Gateway Pundit * by Jim Hoft

    September 11, 2026

    The Obamas Lead As Trump Blows Off New York On 9/11 To Go To A Golf Tournament

    September 11, 2026
  • Health

    Medicaid offers simplified way to handle ‘medical frailty’ exemptions

    September 11, 2026

    Cyclospora outbreak: U.S. officials declare end; origin still unknown

    September 11, 2026

    $500 Obamacare, platinum chemo, ADA boycott: Morning Rounds

    September 11, 2026

    New ‘Queen of Hearts’ AI aims to detect hidden-blockage heart attacks

    September 11, 2026

    Lifesaving childhood chemotherapy raises risk of cancer later in life

    September 10, 2026
  • World

    Cuban Regime Indoctrinating Kids with False 2021 Anti-Communism Protest Narrative

    September 11, 2026

    Jimmy Kimmel Spanks Trump With Humiliating ‘Diaper’ Punchline

    September 11, 2026

    London Doubles Down on Decision to Impose Sanctions on Israel

    September 11, 2026

    Trump Asked Why He Can’t Issue $5,000 Checks Before Midterms

    September 11, 2026

    Oil Crosses Over $101 A Barrel, Highest Since May

    September 11, 2026
  • Business

    ATF Rule Could Cause Classic Showdown Between Mom And Pop Shops Versus Online Retailers

    July 10, 2026

    Costco Shows That You Can Build A Thriving Business With One Simple Trick (Pay Your Workers)

    July 9, 2026

    The Agency Elizabeth Warren Built Now Advances Trump’s Agenda

    July 9, 2026

    Meta To Shell Out Billions For New AI Data Center Outside US

    July 9, 2026

    How Big Banks Are Scheming To Jack Up Your Fees

    July 8, 2026
  • Finance

    172-year-old bank sees 400% upside for ‘federal bank’ token

    September 11, 2026

    Rates shoot up ahead of CPI data

    September 11, 2026

    Morningstar on SanDisk’s 2,107% Year

    September 11, 2026

    AI, Robotics and the Coming Economic, Military, and Political Revolutions

    September 11, 2026

    Which Technology Stock Is a Better Buy in 2026?

    September 11, 2026
  • Tech

    EXCLUSIVE — Silicon Valley Democrat Turned Trump Supporter Warns Chinese AI Could Shape Americans Through ‘Millions of Small Distortions that Nobody Notices’

    September 11, 2026

    FBI Detects Argentina Teenager Using ChatGPT to Plan School Shooting

    September 11, 2026

    China Pushes Back Against American Allegations of ‘Malicious’ AI Theft

    September 11, 2026

    BOKHARI: Anthropic’s Self-Serving Doomsday Narrative

    September 11, 2026

    Mark Zuckerberg’s AI Golden Child Walks Away from Meta

    September 11, 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  Stocks making biggest moves midday: Nvidia, Carvana, Disney, Amazon

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  Spurned by Biden, Israel Asks China to Help Contain Iran Threat

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  China Restarts High-Level U.S. Trade Talks amid Wave of American Company Crackdowns

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

172-year-old bank sees 400% upside for ‘federal bank’ token

September 11, 2026

Rates shoot up ahead of CPI data

September 11, 2026

Morningstar on SanDisk’s 2,107% Year

September 11, 2026

AI, Robotics and the Coming Economic, Military, and Political Revolutions

September 11, 2026
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Pope Francis Urges Chinese Catholics to Be ‘Good Citizens’

September 6, 2023

Former Democrat Congressman Alan Grayson Is Back And Wants Cory Mills’ Seat

June 11, 2026

Tomi Lahren Questions Voting For The GOP

July 16, 2026

Russia Claims Frontline Progress in War With Ukraine

May 5, 2026
Don't Miss

172-year-old bank sees 400% upside for ‘federal bank’ token

Finance September 11, 2026

Sky Protocol, earlier known as MakerDAO, is a decentralized finance (DeFi) project built on Ethereum.…

Trump’s Promise Of $5,000 Checks Is Already Dead

September 11, 2026

Nashville Authorities Unanimously Vote to Rename Airport After Dolly Parton

September 11, 2026

EXCLUSIVE — Silicon Valley Democrat Turned Trump Supporter Warns Chinese AI Could Shape Americans Through ‘Millions of Small Distortions that Nobody Notices’

September 11, 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 (4,399)
  • Entertainment (6,796)
  • Finance (4,948)
  • Health (2,862)
  • Lifestyle (1,931)
  • Politics (4,565)
  • Sports (5,252)
  • Tech (2,659)
  • Uncategorized (4)
  • World (7,000)
Our Picks

Peacock Nabs NFL Rights to First Streaming-Exclusive Playoff Game

May 16, 2023

AI Giants Are Training Chatbots Using Books Written by Authors Like Stephen King

August 26, 2023

Prince Harry & Meghan Markle’s Marriage Tested With Massive Expenses: Source

March 19, 2023
Popular Posts

172-year-old bank sees 400% upside for ‘federal bank’ token

September 11, 2026

Trump’s Promise Of $5,000 Checks Is Already Dead

September 11, 2026

Nashville Authorities Unanimously Vote to Rename Airport After Dolly Parton

September 11, 2026
© 2026 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

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