China Takes Major Step Towards Finalizing National Data Regulation Regime

China recently released new drafts of its Data Security Law and its Personal Information Protection Law for public comment; when finalized the two laws will impose significant obligations on how companies collect, process, and transfer data while operating in, or transacting with, companies or individuals in China.

China's National People's Congress Standing Committee recently released a second draft of two laws that will significantly impact how all companies operating in or transacting with companies or individuals in China may collect, process, and transfer data. The two draft laws are the Data Security Law, which will govern the processing of "important data," and the Personal Information Protection Law ("PIPL"), which will govern the processing of personal information.