With the March 1 compliance deadline quickly approaching, Chinese authorities have announced the first two entities to fully pass the central CAC’s security review for cross-border data transfers.
While just 95 entities in total had applied through Beijing or Shanghai by the end of January, USCBC expects many additional companies to apply in February.
Chinese authorities are unlikely to take immediate action against companies that fail to gain full approval by March 1 as long as they have submitted an application for at least a portion of their data by the deadline.