Chinese business database Qichacha passes Beijing’s security test for resuming overseas operations

Finance

Chinese business database Qichacha said it passed a data export security assessment that allows the company to resume overseas operations.
Vcg | Visual China Group | Getty Images

BEIJING — Chinese business database Qichacha said Friday it passed a data export security assessment that allows the company to resume overseas operations.

The news signals an easing in China’s increasingly stringent government controls over data sharing due to national security concerns.

Earlier this year, Reuters reported, citing sources, that Qichacha and similar databases had closed access to offshore users for months.

Qichacha said in a press release on Friday that it is the first company to pass the Cyberspace Administration of China‘s data export security assessment for a platform providing inquiries into data around corporate creditworthiness.

The administration did not immediately respond to a CNBC request for comment.

In October, the cybersecurity regulator issued draft rules that eased restrictions on sending data outside of mainland China — an issue that had become a major challenge for foreign businesses in the country.

Articles You May Like

Charlie Munger, investing genius and Warren Buffett’s right-hand man, dies at age 99
Home prices kept rising even as mortgage rates surged, S&P Case-Shiller says
Cathie Wood’s Innovation ETF is up 31% in November, notching its best month ever
Munger in final interview describes how he and Buffett turned Berkshire Hathaway into such a success
Risks to Worldwide Investment as Capital Allowances Began to Phase Out in 2023