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    Banking

    China Signals Crackdown on Privacy, Data, Anti-Trust to Go On

    Published by maria gbaf

    Posted on August 13, 2021

    3 min read

    Last updated: February 17, 2026

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    This image represents China's ongoing regulatory reforms in privacy, data management, and antitrust laws, as highlighted in recent announcements by the government. The article discusses the implications for the banking and finance sectors.
    China's crackdown on privacy and data management laws - Global Banking & Finance Review
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    Tags:innovationData managementregulatory frameworkfinancial stabilityPublic Health

    China signals crackdown on privacy, data, anti-trust to go on

    By Yew Lun Tian

    BEIJING (Reuters) -China will draft new laws on national security, technology innovation, monopolies and education, as well as in areas involving foreigners, the national leadership said in a document published late on Wednesday.

    The announcement signals that a crackdown on industry with regard to privacy, data management, antitrust, and other issues will persist on through the year.

    The Chinese Communist Party and the government said in a blueprint for the five years to 2025, published by the state-run Xinhua news agency, that they would also improve legislation around public health by amending the infectious disease law and the “frontier health and quarantine law”.

    China is working for a return to normal after the coronavirus pandemic, which emerged in its Wuhan city in late 2019.

    Regulations dealing with food and medicine, natural resources, industrial safety production, urban governance, transport, would also be strictly enforced, they said.

    Authorities will aim to develop laws consistent with new sectors such as the digital economy, internet finance, artificial intelligence, big data, cloud computing, they said, adding that they would also improve the response to emergencies.

    They additionally laid out directives for the prevention and resolution of social conflicts and reiterated an order for officials to “nip conflicts in the bud”.

    Better legislation for areas including education, race and religion and biosecurity was also on the cards, they said.

    The government has in recent months reined in tech giants with anti-monopoly or data security rules and clamped down on tutoring companies, as the state increases its control of the economy and society.

    On Thursday, state-media outlet the Securities Times reported that banking regulators would step up scrutiny of online insurance companies in an effort to “purify the market environment” and “protect the legal interests of consumers”.

    Authorities used a law aimed at responding to foreign sanctions for the first time last month to sanction former U.S. Commerce Secretary Wilbur Ross and imposed a national security law on the special region of Hong Kong last year, employing legal means to protect interests beyond the mainland border.

    The party and the government also asserted that a “rule of law government” must follow the leadership of the party.

    President Xi Jinping has made “rule of law governance” a signature of his rule, which will be extended if, as expected, he seeks a third term next year.

    (Reporting by Yew Lun TianEditing by Robert Birsel)

    Frequently Asked Questions about China signals crackdown on privacy, data, anti-trust to go on

    1What new laws is China planning to draft?

    China will draft new laws on national security, technology innovation, monopolies, and education, among other areas.

    2What sectors will be affected by the new regulations?

    The new regulations will impact sectors such as the digital economy, internet finance, artificial intelligence, and big data.

    3How has the Chinese government responded to foreign sanctions?

    Authorities used a law aimed at responding to foreign sanctions for the first time last month, sanctioning former U.S. Commerce Secretary Wilbur Ross.

    4What recent actions have been taken against tech giants in China?

    In recent months, the government has reined in tech giants with anti-monopoly and data security rules, increasing its control over the economy.

    5What is the significance of 'rule of law governance' in China?

    President Xi Jinping has made 'rule of law governance' a signature of his rule, emphasizing that it must follow the leadership of the party.

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