China: Announced Measures Facilitating the Cross-border Flow of Financial Data in Shanghai Lingang Free Trade Zone

On 3 February 2024, the Shanghai Municipal Commission of Commerce announced measures aimed at facilitating the cross-border flow of financial data in the Shanghai Lingang free trade zone. The Shanghai FTZ will set up a unified system for cross-border data exchange, featuring higher compatibility and interoperability. The unified system will support traditional electronic data interchange and application programming interface and consider the application of cross-chain docking of blockchain. The Shanghai FTZ will also introduce management measures for the authorisation and operation of public data used in the “single window system”.