Data privacy and security
7. Are there any data privacy and/or data security laws that would apply?

Yes. Currently, the main laws, regulations, rules and standards that include relevant data privacy and security requirements for financial institutions in China are as follows:

  • The PRC Cybersecurity Law
  • The PRC Data Security Law
  • The PRC Personal Information Protection Law
  • The Personal Financial Information Protection Technical Specification
  • The Financial Data Security — Guidelines for Data Security Classification
  • The Measures for the Security Assessment of Outbound Data Provision
  • The Announcement on the Implementation of Personal Information Protection Certification
  • The Measures for Standard Contracts for Outbound Personal Information Provision
  • The Implementing Measures of the People's Bank of China for Protection of Rights and Interests of Financial Consumers
  • The Measures for the Administration of Protection of Rights and Interests of Consumers of Banking and Insurance Institutions