On November 22, 2024, the National Data Administration (NDA) released the Guidelines for Building National Data Infrastructure (Draft for Comment), inviting public input. National data infrastructure (NDI) represents a new type of infrastructure aimed at unleashing the value of data as a production factor. It will provide a range of services, including data collection, aggregation, transmission, processing, circulation, utilization, operation, and security, to the public. NDI functions as an integrated system encompassing hardware, software, model algorithms, standards, and mechanism designs. Under national coordination, NDI will integrate data infrastructures from various regions, industries, and enterprises. Network infrastructure and computing power infrastructure are closely linked with NDI, continually supporting data circulation and utilization through iterative upgrades.

NDA Seeks Public Input on Implementation Plan for Enhancing Data Circulation Security Governance and Promoting Transformation of Data Factors into Marketable and Valuable Assets

[2024-11-29]

On November 29, 2024, the National Data Administration (NDA) released the Implementation Plan Enhancing Data Circulation Security Governance and Promoting the Transformation of Data Factors into Marketable and Valuable Assets (Draft for Comment) for public feedback. The Plan sets several objectives to be attained by the end of 2027: establishing a data circulation security governance system with clear rules, a thriving industry, and multi-party collaboration; improving the mechanisms for the compliant and efficient circulation of corporate data, public data, and personal information; and significantly enhancing governance effectiveness. These efforts aim to strengthen the development of the data market and unlock the value of data. The Plan also outlines key tasks, such as establishing clear security rules for corporate data circulation, improving the security management of public data circulation, and strengthening protections for personal information circulation.

Central Bank Expedites Release of Compliance Guide for Facilitating and Regulating Cross-border Data Flow in the Financial Sector

[2024-11-21]

At the Data Governance subforum of 2024 World Internet Conference (WIC) Wuzhen Sumit, held on November 21, 2024, Li Wei, Director of the Technology Department of the People's Bank of China (PBC), announced that the central bank is expediting the release of a compliance guide for facilitating and regulating cross-border data flow in the financial sector. This guide will provide clearer directions to financial institutions regarding cross-border data flows in the financial sector.

Li Wei stated that the financial sector, being highly data-driven, is undergoing profound changes against the backdrop of a high-level opening up. The demand for cross-border financial data flows is growing rapidly. "Our goal is to further facilitate cross-border financial data flows within a legal and compliant framework, removing barriers for financial institutions looking to expand business in the global market," said Li Wei.

Xue Fei, Deputy Chief of the Data Security Regulation Division at the Network Data Management Bureau under the Cyberspace Administration of China (CAC), discussed the Provisions on Facilitating and Regulating Cross-border Data Flow (the "Provisions"), which were released in March this year, these regulations adjust and optimize the implementation of security assessments and standard contracts, ease conditions for cross-border data flow, and narrowed the scope of security assessments for outbound data transfers. The implementation of these Provisions has largely achieved the expected goal of facilitating cross-border data flows, according to Xue.

For instance, the average time for security assessments of outbound data transfers has been significantly reduced. Since the beginning of this year, the time required for these assessments has continued to decrease, with the average time now reduced to less than 30 working days.

Xue Fei added that the CAC will continue to align with the development of the digital economy, strengthen policy development, and improve the cross-border data management system, to ensure a positive interaction between high-quality development and high-level security. The authority will further optimize the regulatory mechanisms for outbound data transfers, enhance coordination with local authorities and other departments, promote the effective implementation of policies, and guide companies in China to conduct cross-border data flows in a compliant and organized manner, thus supporting businesses as they serve global markets.