Thomas Zhang Gives Opening Remark of Data Security Panel Session at Austria Connect China 2022
Thomas Zhang, Partner and Head of IT & IS, recently spoke at Advantage Austria’s annual meeting, AUSTRIA CONNECT CHINA 2022. Held in Beijing, this 3-day hybrid event was hosted by the commercial section of the Austrian Embassy with Thomas joining virtually from Shenzhen.
During the event, China’s 14th Five-Year-Plan (14TH FYP) was one of the main focuses. Commenting on the 14th FYP, Mr. Andreas Riecken, Austrian Ambassador to China, remarked that China remains by far the most important trading partner for Austria in Asia. In these challenging times, it is especially important for Austrian companies to thoroughly understand what conditions exist for them doing business in China.
Thomas gave an opening remark in the second day’s Data Regulation session and joined in on the panel discussion as well. In his opening remark, Thomas presented an overview of the 14th Five-Year Plan for National Informatization and China’s targets for informatization and digital economy development. When explaining data compliance challenges foreign companies face in China, Thomas noted that, “Compliance is not only for China, but is also a worldwide issue. If you are GDPR compliant in the EU already, you could take a similar methodology for compliance in China. However, we also need to pay attention to the differences between PIPL and GDPR, as those differences will lead to different focus and efforts for compliance in China. Meanwhile, we still need to wait for further detailed clarification on those requirements.”
When asked about what immediate actions foreign investors should take under the tightening data regulatory environment in China, Thomas advised, “The most important thing is for the decisionmakers to shift their mindset and really take data security and compliance in China seriously. Then you will need internal or external specialists to review your compliance situation to better understand how to take the next step.”
Should you have any questions about how to be compliant under China’s data security regulations, our team of experts can help you.
For further resources on China’s data regulation, you can visit our website, China Briefing, where you can find articles and webinars such as:
- UPDATE: Latest China Data Protection Regulations for Industrial and Telecom Companies
- A Close Reading of China’s New Cybersecurity Review Measures, in Effect Feb 15, 2022
- Q&A: How to Understand the Implementation of the PIPL in China?
- Cross-Border Data Transfer – New Draft Measures Offer Clarification on Security Review
- The PRC Personal Information Protection Law (Final): A Full Translation
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