On May 9, 2025, CHI CB published the finalized Data security management measures on business field of CHI CB, and answered reporters' questions re the same.
The measures will be effective from Jun. 30, 2025.
On Jul. 24, CHI CB drafted data security management measures.
CHI CB drafted Data security management measures on business field of CHI CB, in order to align with the implementation of the Data security law of PRC.
Measures
Applicable to data processing involved in monetary policy, cross-border RMB business, inter-bank transactions, payment and settlement, digital RMB business, AML business.
Standardize data classification requirements according to important data identification standards specified by CHI CB for network security protection and risk assessment.
Data processors shall consolidate data security responsibilities, establish data security accountability and punishment system and formulate a data security training plan.
Define bottom line of security compliance throughout the entire process of data processing, e.g. collection, storage, use, processing, transmission, disclosure, deletion.
Refine compliance requirements such as risk monitoring, assessment and auditing.
CHI CB and its branches can carry out law enforcement inspections on data security protection obligations; specify legal liability for data processors who violate the rules.
Effectiveness
The consultation is open for opinions which shall be submitted by Aug. 24, 2023.
May 2025 Finalized Measures
On May 9, 2025, CHI CB published the finalized Data security management measures on business field of CHI CB, and answered reporters' questions re the same.
The measures will be effective from Jun. 30, 2025.
Regulators
CHI CB
Entity Types
Bank; MSB
Reference
RN PBC No. 3 (2025); CP, PR, 7/24/2023
Functions
AML; Compliance; Cyber; Financial; Legal; Privacy; Reporting; Risk; Settlement; Training
