On June 29, 2021, Mr. David Pan, a partner of Llinks, was invited by the American Chamber of Commerce in Shanghai, to have an in-depth sharing session with AmCham members on the topic of 'What the Data Security Law Means for Companies'.
Mr. Pan focused on the analysis of data classification and gradation, cross-border data transmission and other issues that companies are most concerned about, and provided compliance advice on the entry into force of the 'Data Security Law', as well as suggestion on how to respond to subsequent supporting regulations, and how to implement data security responsibilities as soon as possible.
Mr. Pan pointed out that for enterprises, the data classification and gradation protection system at the national level will mainly focus on the identification and protection of important data. It is recommended that companies pay close attention to the important data catalogs and important data protection measures to be released by the competent industry authorities. As for multinational companies, it is recommended to fully consider the possibility of restricted data transmission and increased performance costs after the introduction of the by-laws for cross border data transmission.
Mr. Pan analyzed that after the 'Data Security Law' comes into effect, it may form a linkage with the 'Countering Foreign Sanctions Law' and the 'Export Control Law' to further safeguard China's national interests and the lawful rights and interests of its citizens and organizations.
