Caixin Explains: Four Chinese guidelines that can help folks safeguard their private info
When authorities fined trip-hailing large Didi World wide Inc. past week for cyber and details protection breaches — like illegal collection of facial facts — they sent an 8 billion yuan ($1.2 billion) signal to the Chinese public that regulators are using consumer info infringements critically.
As China ramps up its lawful protection of particular info, massive-scale particular info selection and processing might violate the law if carried out without users’ knowledgeable consent. The country’s top rated prosecutor claimed 2,000 general public interest instances (link in Chinese) about particular data in 2021, a virtually threefold improve from the past 12 months.
FINANCE & Financial system
An e-CNY display screen in Suzhou, East China’s Jiangsu province, on Jan. 3. Image: VCG
Electronic currency /
Central lender to beef up digital yuan policies to tackle privacy troubles
China designs to tighten legislation all over the electronic yuan to shield person privateness and battle illegal actions this kind of as revenue laundering and terrorist financing, said Mu Changchun, the head of the central bank’s digital forex exploration institute.
There have been “misunderstandings” that applying the electronic forex infringes on people’s privateness and turns everyone into “a little ant with GPS mounted,” Mu explained Sunday in a speech at the 5th Electronic China Summit, a govt-backed meeting in Fuzhou, Fujian province. There is a “controlled anonymity” used to the forex, which implies authorities obtain users’ own information and facts only when they suspect unlawful transactions have taken place, he reported.
Finance veteran Zhao Peng set to become president of China Life’s publicly traded unit
Zhao Peng, a finance marketplace veteran who worked for China Life Coverage (Group) Co. for far more than two a long time, is returning to the condition-owned insurance coverage large to head its publicly traded subsidiary China Existence Insurance coverage Co. Ltd., Caixin discovered from sources with information of the subject.
Zhao will be named president and Communist Celebration secretary of the group’s Shanghai- and Hong Kong-outlined device, succeeding 59-yr-previous Su Hengxuan, who is stepping down as president but will remain as a vice president of the group, the resources reported.
Business & TECH
Unigroup was when at the forefront of China’s generate to create the domestic semiconductor industry.
Previous Unigroup chief falls underneath investigation
A former chairman and major shareholder of China’s Tsinghua Unigroup Co. Ltd. was placed underneath investigation as the debt-laden semiconductor conglomerate wraps up a personal bankruptcy reorganization to reboot its enterprises.
Zhao Weiguo, 55, was taken away from his household in Beijing by authorities in mid-July and has due to the fact been out of call, various people with knowledge of the make any difference advised Caixin.
China’s electrical-motor vehicle exports surge to Western Europe and Southeast Asia
Western Europe and Southeast Asia became the key locations for China’s new strength auto (NEV) exports, accounting for nearly 50 % of all automobiles marketed abroad throughout the initial six months this calendar year, in accordance to the China Passenger Motor vehicle Affiliation (CPCA).
China exported 362,200 NEVs in the initial 50 percent, far more than double from the previous year, Cui Songshu, secretary typical of the CPCA, stated over the weekend citing customs facts. Exports to Western European international locations reached 122,700 autos, accounting 34% of full exports, while profits to Southeast Asia came to 58,400 models, or 16% of the total, Cui claimed.
Brief hits /
China approves first homegrown Covid tablet
Apple prepares scarce Iphone discount for China buyers
Alibaba seeks key Hong Kong listing to woo Chinese investors
Tech Insider /
Harder trip-hail details policies, previous Unigroup chairman investigated
Prolonged Examine /
The Chinese economy’s unsure path to recovery
Torch Festival lights up Southwest China
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