Thomas Zhang, Associate and Head of IT & IS, recently spoke at Edge Austria’s yearly meeting, AUSTRIA Connect CHINA 2022. Held in Beijing, this 3-day hybrid function was hosted by the commercial section of the Austrian Embassy with Thomas joining almost from Shenzhen.
For the duration of the occasion, China’s 14th Five-Year-Strategy (14TH FYP) was one particular of the key focuses. Commenting on the 14th FYP, Mr. Andreas Riecken, Austrian Ambassador to China, remarked that China remains by far the most essential buying and selling husband or wife for Austria in Asia. In these challenging instances, it is primarily essential for Austrian companies to comprehensively recognize what problems exist for them undertaking company in China.
Thomas gave an opening remark in the 2nd day’s Data Regulation session and joined in on the panel dialogue as nicely. In his opening remark, Thomas presented an overview of the 14th Five-Year Program for National Informatization and China’s targets for informatization and electronic economy advancement. When outlining knowledge compliance worries international businesses facial area in China, Thomas noted that, “Compliance is not only for China, but is also a globally challenge. If you are GDPR compliant in the EU by now, you could consider a identical methodology for compliance in China. Nonetheless, we also require to shell out notice to the differences among PIPL and GDPR, as these distinctions will guide to different focus and efforts for compliance in China. Meanwhile, we nevertheless need to have to hold out for more thorough clarification on those necessities.”
When requested about what speedy actions foreign traders must get beneath the tightening facts regulatory atmosphere in China, Thomas suggested, “The most vital thing is for the decisionmakers to change their frame of mind and truly take facts security and compliance in China very seriously. Then you will want inside or external specialists to evaluation your compliance circumstance to improved recognize how to choose the future move.”
Should you have any inquiries about how to be compliant less than China’s data stability laws, our staff of experts can assist you.
For even more means on China’s info regulation, you can stop by our website, China Briefing, exactly where you can locate content and webinars this kind of as: