IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 21 Jan 2011 | Removal date: open ended
Still in force

Local operations

On 21 January 2011, the Chinese State Council passed a new law that forbade the transfer of any Chinese citizen's personal financial data out of the country, for any purpose (specifically, 'storage, processing or analysis'); thus forcing foreign companies to invest in local processing centres if they want to continue their operations in the Chinese personal banking industry.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

811 Research & development in natural sciences & engineering
841 Telephony & other telecommunications services
842 Internet telecommunications services

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