[TE article summary] Technology governance - China's new cyber-security law is worryingly vauge
1. URL: http://www.economist.com/news/business/21722873-its-rules-are-broad-ambiguous-and-bothersome-international-firms-chinas-new-cyber-security
2. Topic: Technology governance
3. Title: China's new cyber-security law is worryingly vague
4. Subtitle: Its rules are broad, ambiguous and bothersome to international firms
Print Edition, Business, June 1st 2017
1) MNCs with business in China have moaned its vagueness of the country's new laws introduced scrambling to infer the implications on how to do their business.
2) One of the two laws regarding cyber-securities requires firms deemed to be critical to store their data locally and to be subject to audits by inspectors and it seems reasonable and less stricter than European ones.
3) The other one regarding data privacy requires to maintain data on local servers and obtain permission for sending bulk data to abroad.
4) The first big worry: The vagueness and broadness of the law may harm the cross border trade and MNCs' business in China by rejigging their IT systems' information flow.
5) The second big worry: The new law may be an attempt for the chinese government to promote their local firm's innovation by making MNCs divulging their intellectual properties just when Microsoft revealed its source code to sell a local version of Windows 10.
6) Whether firms are secure and controllable will be decided by officials and the news of new law introduction has already boosted shares of local competitors who allegedly have had a hand in crafting the laws.
7) Chinese international firms may also be affected by the laws when they want to send their data abroad too.
2. Topic: Technology governance
3. Title: China's new cyber-security law is worryingly vague
4. Subtitle: Its rules are broad, ambiguous and bothersome to international firms
Print Edition, Business, June 1st 2017
1) MNCs with business in China have moaned its vagueness of the country's new laws introduced scrambling to infer the implications on how to do their business.
2) One of the two laws regarding cyber-securities requires firms deemed to be critical to store their data locally and to be subject to audits by inspectors and it seems reasonable and less stricter than European ones.
3) The other one regarding data privacy requires to maintain data on local servers and obtain permission for sending bulk data to abroad.
4) The first big worry: The vagueness and broadness of the law may harm the cross border trade and MNCs' business in China by rejigging their IT systems' information flow.
5) The second big worry: The new law may be an attempt for the chinese government to promote their local firm's innovation by making MNCs divulging their intellectual properties just when Microsoft revealed its source code to sell a local version of Windows 10.
6) Whether firms are secure and controllable will be decided by officials and the news of new law introduction has already boosted shares of local competitors who allegedly have had a hand in crafting the laws.
7) Chinese international firms may also be affected by the laws when they want to send their data abroad too.
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