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Boosting cross-border data flows among China's plan to bolster digital finance

( November 29, 2024, 05:39 GMT | Official Statement) -- MLex Summary: China will promote and regulate the cross-border flow of financial data, unify compliance standards and provide guidelines for financial institutions as part of measures to lay the foundation for the development of digital finance, according to a plan jointly released by seven government departments, including financial regulators and the National Data Bureau. Financial institutions will also be guided to deploy advanced and efficient computing-power systems, and adopt cloud computing and artificial intelligence technologies. The plan also includes measures to improve digital-finance governance, including strengthening data and cybersecurity protection and safeguarding financial consumers' interests....

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