In the News: Data Protection Law Draft; Baoshang Bank Takeover; and Tougher CSRC Penalties
June 03, 2019 | BY
Marilyn RomeroChina's internet regulator releases a draft of data protection law for public consultation; regulators take over Baoshang Bank due to serious credit risk exposure; and CSRC vice chair Yan Qingmin pushes for tougher penalties.
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Data privacy
Internet regulator seeks public views on draft data regulations
The Cyberspace Administration of China, the country's internet regulator, has released for public consultation its proposed data security regulation, and is seeking views on the draft. The new law applies to the network-based collection, storage, transmission, processing, and use of data, as well as data security protection and supervision in the country. The draft also requires operators to take immediate action in events of personal information leakage or when data security risks increase significantly.