China’s New Data Law Gives Xi the Power to Shut Down Tech Firms
- Companies can be forced to close, fined under new legislation
- Chinese leader seeking to take tighter control of data piles
This article is for subscribers only.
China’s new data security regime gives President Xi Jinping the power to shut down or fine tech companies as part of his drive to wrest control of vast reams of data held by giants like Alibaba Group Holding Ltd. and Tencent Holdings Ltd.
Firms found mishandling “core state data” can be forced to cease operations, have their operating licenses revoked or fined up to 10 million yuan ($1.6 million) under a law passed Thursday by the Asian nation’s top legislative body.