The most disturbing thing for foreign businesses facing China's new cybersecurity law may just be how vague and broad it is. Under the new law, adopted on Monday and taking effect next June, it's possible that any major company working in the country might be subject to "security reviews" from the Chinese government. Any company involved in telecommunications, information services, finance or any sector "where the loss of data can harm the country's security" is subject to a possible review. But what these security reviews actually entail isn't clear in the law. That vagueness has foreign companies worried.
BEIJING – Chinese authorities could freeze assets and take other actions against foreign hackers threatening the country's infrastructure under a revised draft of a new cybersecurity law. The law has been submitted for its third and final reading by the Standing Committee of the National People's Congress, China's legislature, the official Xinhua News Agency reported. Xinhua says the draft would allow police and other agencies to freeze assets and apply "other necessary punishment" against foreign hackers, while also requiring expanded security measures for industries including public communications, energy and finance. Monday's report provided no details. The legislation is expected to be passed in the coming weeks.
The technology world has spent so much of the past two decades focused on innovation that security has often been an afterthought. Learn how and why it is finally changing. Alphabet has hatched an independent cybersecurity company from its X unit called Chronicle. The company is in the early stages of developing a cybersecurity intelligence and analytics platform using techniques used at Google. The details about Chronicle's underlying technology for its cybersecurity platform are unclear.