China: Closed consultation on Measures for the Administration of Data Security in the Business Field of the People's Bank of China including data localisation requirements

On 24 August 2023, the public consultation closed on the People's Bank of China (PBC) Measures for the Administration of Data Security in the Business Field of the People's Bank of China including data localisation requirements. The Measures outline data security obligations for entities processing personal data within the business domain of the PBC, limited to operations conducted exclusively within China. The Measures specify that the entities are required to store the data within the country if collected and produced in accordance with the requirements of laws and administrative regulations.