The Chinese government has launched a new battle with the country's tech giants, seeking to target their data collection and use.On Monday, the China Cyberspace Administration (CAC) also launched a cybersecurity investigation against US-listed boss Zhipin and the Full Truck Alliance subsidiaries.
This came the day after the ทางเข้า slotxo CAC ordered app stores in the country to remove Didi's call-to-ride service, alleging that the company was involved in the illegal collection and use of personal data. On Friday, the same regulator announced a cybersecurity review by Didi, which had a massive US initial public offering just last week.
The CAC is subordinate to a body chaired by Chinese President Xi Jinping.Over the past several months, Beijing has taken harsh measures against domestic tech giants, from the cancellation of Ant Group's $ 34.5 billion listing to Alibaba's $ 2.8 billion antitrust fine. The focus is on antitrust regulation as well as financial technology regulation.
Now regulators are paying attention to data because of its importance to the technology industry, a key driver of economic growth.The digital economy is impossible without strong data privacy protection. And the digital economy is helping to slow China's growth, ”says Kendra Schaefer, partner at the consulting firm Trivium China. China's tech giants have emerged as some of the world's most valuable companies, largely unregulated, but that is changing.
Since the adoption of the 2017 Cybersecurity Law, China has had certain data rules.But in June, the Data Security Law was passed, which defines the rules for the collection, storage, processing and transmission of data by companies. It comes into effect in September.Work is also underway on a separate piece of legislation called the Personal Information Protection Law. If accepted, it will give users more control over their data.
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