Research on Legal Issues of Cross Border Flow of Financial Data from the Perspective of Economic Globalization

DOI

10.2991/978-2-38476-092-3_236How to use a DOI?

Keywords

Financial data; Laws and regulations; Cross-border flow

Abstract

In the current context of global economic integration, financial institutions need to transmit a large amount of financial data globally to support their normal business operations. These data are crucial for management decisions, such as fund flows, product pricing, and marketing, all of which rely on scientific and reliable statistical data. However, financial data is vast in scale, diverse in variety, and some data is complex and sensitive, which may pose a threat to personal privacy and national security when cross-border flow occurs. In regulating the cross-border flow of financial data, China has adopted a combination of general provisions and special provisions to achieve a balance of interests. However, this regulatory framework has some shortcomings, such as unclear definitions of certain important financial data concepts and poor coordination between different regulatory rules. Today, with financial data becoming increasingly important, countries should establish a system of coordinated and tightly linked legal regulations for cross-border regulation of financial data, based on the principle of balancing interests. This includes establishing graded and dynamic regulatory rules for financial data, and actively participating in the formulation of international data flow rules to better safeguard national information and citizens’ privacy and security.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Tielan Hu
PY  - 2023
DA  - 2023/09/09
TI  - Research on Legal Issues of Cross Border Flow of Financial Data from the Perspective of Economic Globalization
BT  - Proceedings of the 2023 9th International Conference on Humanities and Social Science Research (ICHSSR 2023)
PB  - Atlantis Press
SP  - 1840
EP  - 1844
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-092-3_236
DO  - 10.2991/978-2-38476-092-3_236
ID  - Hu2023
ER  -