Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, United States during the IPO of Chinese ride-hailing company Didi Global Inc on June 30, 2021.

Brendan McDermid | Reuters

China’s tech giants have grown into some of the most valuable companies in the world that are largely unbridled – but that’s changing.

Since the Cybersecurity Law of 2017, China has had some data regulations.

In June, however, the Data Protection Act was passed, which defines the rules for how companies collect, store, process and transfer data. It comes into force in September.

A separate law, the law on the protection of personal data, is also being worked on. If passed, it gives users more control over their data.

“We can definitely expect that many raids on user data will take place as soon as these two laws are passed,” said Schäfer. “This is definitely a different front (of regulation).”

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