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China’s new Data Security Law promises steep punishments for unapproved overseas data transfers

China’s top lawmaking body has passed a sweeping data law that further enhances the government’s authority and promises hefty punishments for any transgressions as Beijing continues to rein in Big Tech and impose its sovereignty over data produced in the country.Under China’s new Data Security Law, passed on Thursday, companies that transfer the state’s “core data” overseas without proper approval from Beijing will face a penalty of up to 10 million yuan (US$1.56 million) and could be forced to…China’s top lawmaking body has passed a sweeping data law that further enhances the government’s authority and promises hefty punishments for any transgressions as Beijing continues to rein in Big Tech and impose its sovereignty over data produced in the country.Under China’s new Data Security Law, passed on Thursday, companies that transfer the state’s “core data” overseas without proper approval from Beijing will face a penalty of up to 10 million yuan (US$1.56 million) and could be forced to…Read MoreNews – South China Morning Post