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China should allow cross-border data sharing, financial lobby group says

By Samuel Shen for AML Intelligence

China should allow cross-border sharing of information by financial firms operating in the country, a leading financial lobby group said, as authorities tighten control of data generated within its borders in a national security drive.

Last July, China unveiled cross-border data review measures that require a security review for “important” offshore data transfers – a move that triggered confusion and concern among foreign financial firms operating in the country.

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