Cyber Security

China Planning Ten-Fold Increase in Some Cyber Law Fines

 

China’s cyberspace regulator has proposed ratcheting up fines for cybersecurity law violations, including hiking some up from 100,000 to 1 million yuan.

The regulator revealed a series of proposed amendments on Wednesday to the country’s cybersecurity laws, saying that it wanted to improve coordination with other new laws. 

The Cyberspace Administration of China (CAC) said, for example, that it wanted to introduce a penalty that would see operators which used products or services that had not undergone security reviews be fined up to an equivalent of 5% of their previous year’s revenue, or 10 times the amount they paid for the product. 

 

Also on AF: China Set for New Economic Leaders as Reformers Retire

 

It also said it wanted to raise the fines for some violations, from up to 100,000 yuan ($14,371) previously to one million yuan. The proposed amendments are open to public feedback until September 29, it added. 

China’s 2017 cybersecurity law marked the first major set of rules governing the storage and transfer of data of Chinese origin. 

The country over the past year has added laws on data security and personal information protection. 

The changes have impacted how companies in China operate and especially how they handle data such as user information. 

In July, the CAC said Chinese ride-hailing giant Didi Global had violated three major laws and fined it $1.2 billion.

 

  • Reuters with additional editing by Sean O’Meara

 

Read more:

China Cybersecurity Regulator to Enforce New Data Rules

China Cybersecurity Police to Crack Down on Trolls, Fake Accounts

China Cybersecurity Rules Seen as Big Risk For Finance Firms

 

 

Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.

Recent Posts

China Buys Russian Oil at Deepest Discount in Months

The effective prices refiners pay could exceed the $60 per-barrel cap that came into effect…

53 mins ago

EV Maker Vietnam’s First Company to List in US

If successful, VinFast will be Vietnam's first company to list in the United States

53 mins ago

Plunging Trade Risks China’s Status as the ‘World’s Factory’

China's uncompromising Covid policies, poor domestic demand and a real estate sector crash all combined…

18 hours ago

China Debt Ratio Three Times GDP in Record High – Nikkei

With private businesses reluctant to spend, local government and state-owned banks stepped into the gap…

19 hours ago

US Eases Planned Curbs Against China Chips Over Cost Fears

The move followed pushback from trade groups like the US Chamber of Commerce which argued…

22 hours ago

Asia Stocks Sink as Recession, China Covid Fears Weigh

Investors were in pessimistic mood with US banks predicting a downturn next year and worries…

23 hours ago