China Streamlines Cross-Border Financial Data Flows

China has issued new guidelines to enhance the efficiency and standardization of financial data cross-border flows for Chinese and foreign institutions. Released by six government agencies, including the People's Bank of China, the guidelines define data outflow circumstances and list permissible cross-border data items.

China has unveiled new guidelines aimed at improving the efficiency and standardization of cross-border financial data flows. The announcement was made by the central bank on Thursday.

These new guidelines were published in collaboration with six key government bodies, one of which is the People's Bank of China. The framework primarily aims to regulate the circumstances under which data can be transferred across borders.

Additionally, the guidelines specify the types of data items that are permitted to move across national boundaries, providing clarity in an area of growing significance for financial institutions operating in China and internationally.

(With inputs from agencies.)