How GDPR Affects Data Transfer Between Hong Kong and China

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Aside from the new measures, it is also important to take into consideration the current environment of HK and its business climate as well. The Hong Kong economy remains one of the most active in Asia, with a large number of international companies setting up in Hong Kong. The city is a hub for financial services, technology and innovation, which are attracting investors from around the world. In addition, it has a highly skilled workforce and excellent infrastructure.

The main challenges in the implementation of a cross-border data transfer between Hong Kong and mainland China will be in overcoming differences in their regulatory frameworks and ensuring data privacy. In particular, the two parties will need to reach a consensus on the definition of personal data, the handling of security threats and other key issues, according to Vincent Chan, Greater Bay Area Consulting Partner and Leader at EY.

As a result, the cross-border transfer of data will take time to become a reality. This is especially true for companies involved in financial services, telecommunications and the Internet of Things (IoT). Nonetheless, it is important to keep in mind that the GDPR is not an endpoint but rather a step towards better and more secure cross-border data flows.

To ensure that a cross-border data transfer is safe and secure, the new laws will need to be fully implemented. This will require both countries to amend their existing legislation in order to fully comply with the new requirements. In addition, it is also necessary to set up a system that will allow both sides to monitor and regulate the flow of data.

The new laws will not only protect users but also help them to take better control of their data. They will provide clear guidelines for individuals on how to protect their information and how to use it legally. The law will also help businesses to improve their cybersecurity and protect their data from potential cyber attacks.

In the meantime, individual can opt out of receiving unsolicited marketing calls by registering their telephone numbers on the HK Do Not Call list. This can be done online or by calling the Do Not Call hotline. It is a free service and will help to reduce the number of nuisance calls that people receive.

Tech Data Distribution (Hong Kong) Limited, a TD SYNNEX company, is a leading global IT distributor and solutions aggregator that empowers customers to achieve significant business outcomes through optimized IT infrastructure. Its 23,500 co-workers are dedicated to uniting compelling IT products, services and solutions from 1,500+ best-in-class technology vendors.

The CDI is a next-generation financial data infrastructure to enable more efficient financial intermediation and enhance financial inclusion in the region. Instead of multiple one-to-one connections between banks and sources of commercial data, such as utility companies, each bank will have a single connection to the CDI. This will make the process of sharing data more secure, efficient and scalable.