This also applies to data related to opening bank accounts, booking flights and hotels, and testing services.
Additionally, companies will no longer have to review employee personal information sent overseas as part of labor contracts or labor regulations.
However, if the data relates to critical information infrastructure, or if the non-sensitive personal information of more than one million people is transferred in a year, or if it contains “sensitive information” of even more people, then the data is You must undergo a security assessment. Over 10,000 people.
The Cyberspace Administration of China said cross-border data flows are the basis for global exchanges and sharing of capital, information, technology, talent, goods and other resources..
“To facilitate the lawful, orderly, and free flow of data, we must unlock the value of data elements and [we should] State news agency Xinhua quoted the administration as saying.
“Establish regulations regarding security evaluation when exporting data, standard contract when exporting personal information, personal information protection certification, etc.''
“Adjustments have been made to optimize the system for outbound data.”
This rule has sparked widespread concern among foreign companies about the cost and nature of compliance.
The draft exception, Regulations for Facilitating and Regulating Cross-Border Data Flows, was proposed last year before being published on Friday.
China to implement strict new cross-border data transfer regulations from September
China to implement strict new cross-border data transfer regulations from September
The easing of data rules comes as the Chinese government remains committed to reviving foreign direct investment and boosting the economy after a year of slow post-pandemic recovery.
Direct investment in China in 2023 decreased by 13.7% from the previous year, reaching USD 163.3 billion.
Chinese Premier Li Qiang highlighted this concern in his first government work report submitted to the annual Legislative Council earlier this month.
Mr Lee vowed further opening up to foreign companies and cited barriers to such investment, including those related to “cross-border data flows”.
In addition to strict rules on sharing data abroad, ambiguity in the Chinese government's newly revised anti-espionage and state secrets laws promulgated last year has deeply concerned the overseas business community.