Email of the day on China's data security law:
Comment of the Day

July 20 2021

Commentary by Eoin Treacy

Email of the day on China's data security law:

What are your thoughts on the Data Security Law to be rolled out in Sept.? Yet another tool the Chinese government is using to control their equity markets?

Eoin Treacy's view

Thank you for the attached article and this topic question. Here is a section from the Reuters article

"They're playing four-way chess here," said Samm Sacks, a cyber policy fellow at think tank New America.

"It's not just a national security policy, it's a much more deliberate plan asking 'how do we really tap into the value that flows from data from an economic standpoint?'"

A digital economy development plan released by the State Council in March lays out a five-part plan for "experimental stage data markets" and calls for authorities to "implement and strengthen the economic supervision" of internet platforms.

The powerhouse province of Guangdong last week announced plans to launch one such platform by year-end to trade and oversee the movement of data, including a customs hub for international transfers.

In the West we tend to think of individual personal and health data as the property of the individual. We share our information with service providers. In return they make products available that we place value in. Platform companies have monetised individual data points to create vast databases of files which are primarily used to sell advertising. China sees the potential but wants to ensure the market grows within arms’ reach of the Party.

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