( July 9, 2026, 09:17 GMT | Official Statement) -- MLex Summary: China's financial regulators have proposed new cybersecurity rules for the financial sector, seeking to strengthen cyber resilience as the industry's digital transformation accelerates. The draft measures, jointly released by the People's Bank of China, the National Financial Regulatory Administration, the China Securities Regulatory Commission and the State Administration of Foreign Exchange, establish baseline requirements for network security, data protection and personal-information safeguards. The proposal would also require financial institutions to strengthen governance, supply-chain security, risk assessments, content moderation and incident response, while creating a cross-agency cybersecurity oversight framework. It also clarifies compliance obligations and legal liabilities to prevent cyber incidents from evolving into broader financial risks. The draft is open for public comment until Aug. 3. Statement follows and the draft measures are attached (both in Chinese). ...
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