HONG KONG : China's biggest financial data provider Wind Information Co told some customers late last year that it was restricting offshore users from accessing certain business and economic data as a result of the cybersecurity regulator's new data rules, two sources said.Restricted access to Wind by off
HONG KONG : China's biggest financial data provider Wind Information Co told some customers late last year that it was restricting offshore users from accessing certain business and economic data as a result of the cybersecurity regulator's new data rules, two sources said.
Shanghai-based Wind has made part of its data such as home sale numbers, which used to be updated regularly, inaccessible for users based outside mainland China since September last year, one of the sources said. The cybersecurity regulator issued final rules last July requiring data exports to undergo security reviews, as part of a new regulatory framework that will affect hundreds, if not thousands, of Chinese companies.Beijing has in recent years issued new cybersecurity, data and privacy laws that require organisations with large user bases to undergo assessments and approvals when handling the data they collect.
So far, offshore users' access to Wind information that has been blocked includes business registry details such as a company shareholding structure and its ultimate controller, as well as economic data such as home and land sales in certain cities, sources have told Reuters. Police visited Bain & Co's office in Shanghai and questioned staff, the U.S. management consultancy said last week.
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