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China Proposes Sweeping New Rules for Personal Data Protection on Major Online Platforms

Nov. 24, 2025 | Governance & Law

China’s regulators have proposed comprehensive rules to govern how large online platforms handle and protect personal information.

**On November 22, 2025, the Cyberspace Administration of China and the Ministry of Public Security released the draft Provisions on Personal Information Protection for Large Online Platforms, opening it for public comment until December 22, 2025.**
The draft outlines requirements for the processing of personal data by major platforms, aims to safeguard individuals’ information rights, and seeks to support the continued growth of the platform economy.

**The draft identifies large online platforms by three main criteria: having at least 50 million registered users or 10 million monthly active users, providing services across multiple categories, and controlling data whose breach could jeopardize national security or economic operations.**
Operators must process personal information in a lawful, fair, and necessary manner, act in good faith, and assume primary responsibility for protecting sensitive personal data. They must also implement special safeguards for minors.

**Each platform must appoint a qualified Chinese national—without foreign residency permits and with at least five years of relevant experience—to oversee personal information protection.**
This individual will guide compliance efforts, supervise data processing, halt any non-compliant activities, coordinate with regulators, and report security risks or criminal acts. Platforms are further encouraged to form dedicated teams responsible for risk monitoring, audits, emergency response, training, and public education.

**Under the draft, all personal information collected within China must be stored domestically.**
Platforms seeking to transfer data across borders must undergo national security assessments and follow prescribed data export rules. Data centers must be led by Chinese nationals, meet national security standards, and ensure that any third-party data centers or professional service providers comply with security obligations, support compliance audits, conduct risk assessments, and assist in incident investigations.

**The draft grants individuals the rights to access, correct, delete, and port their personal information.**
Platforms must respond to such requests within specified timeframes—typically 30 working days—and may charge reasonable fees for repetitive data transfers. In the event of serious data breaches, defined as those affecting more than one million individuals or over 100,000 individuals’ sensitive data, authorities can mandate internal or third-party audits and require platforms to use certified data centers.

**Regulatory bodies will hold the power to order audits, impose fines, revoke licenses, and pursue criminal penalties for violations.**
The draft establishes public complaint channels for reporting personal information protection breaches and requires authorities to respond within 15 working days. Government personnel, auditors, and data-center operators handling sensitive information must adhere to strict confidentiality obligations and comply with national secrecy laws and critical information infrastructure security requirements.

**These provisions align with China’s existing Personal Information Protection Law, Data Security Law, and Cybersecurity Law, and encourage the adoption of national network identity authentication services, data-labeling technologies, and personal information protection certifications.**
The regulations will take effect once the public consultation period concludes and the provisions receive formal approval.

### IMPACT ANALYSIS
**From this Development, various impacts could cascade through the system, to a lesser or greater extent, depending on the severity and criticality of the shocks.**

Domain	Causal Chain	Possible Outcome
Competitiveness	(Regulatory-quality & red-tape index ↑ → Regulatory-approval lead time (days) ↑ → Average cost of capital (WACC) ↑ → Business fixed-investment growth deviation ↓)	Stricter regulation and elongated approval processes raise financing costs and curb business fixed-investment growth.
Technology & Innovation	(Baseline cybersecurity regulation ↑ → Data-localisation compliance cost ↑ → Cloud API average latency ↑ → Unicorn creation count ↓)	Elevated compliance costs and slower cloud services hamper startup scaling, reducing the emergence of unicorns.
Information Dynamics	(Data-privacy regulation robustness ↑ → Data-breach incidence (records exposed) ↓ → Cross-platform disinformation campaign count ↓ → Misinformation-belief prevalence ↓)	Stronger privacy rules reduce data breaches and disinformation, thereby lowering public susceptibility to misinformation.
Governance & Law	(Data-protection & privacy legislation ↑ → Government-content-takedown requests ↑ → Information-access inequality ↑ → Digital attention shift to fringe platforms ↑)	Increased takedown requests exacerbate information-access disparities and drive users toward fringe platforms.

### BOTTOM LINE

- The requirement that platforms appoint a Chinese national DPO with no foreign residency and at least five years’ experience will centralize state-aligned oversight of data governance, prompt rapid expansion of internal compliance teams, and cause companies to elevate reporting channels to regulators to avoid liability.

- Mandatory domestic storage of personal information combined with rigorous national-security assessments for cross-border transfers will force foreign and domestic providers to localize infrastructure or limit services, increasing capital and operating costs and slowing cross-border product development and collaboration.

- Longer regulatory-approval lead times and added procedural requirements will raise project uncertainty and financing risk, which will increase the weighted average cost of capital for major platforms and lead firms to delay or reduce fixed capital expenditures and expansion projects.

- Higher compliance and infrastructure costs from localization and certification requirements will slow cloud performance and integration agility, making it harder for early-stage internet companies to scale quickly and reducing the pace at which high-growth startups reach large valuations, while creating opportunities for domestic cloud and security vendors.

- Mandatory audits after large data exposures, stricter confidentiality rules for government and auditor personnel, and stiffer penalties will incentivize platforms to materially upgrade security architectures and incident response, which will likely reduce the frequency of mass data leaks and the availability of granular leaked data for coordinated disinformation campaigns.

- Expanded enforcement powers and narrower operational tolerances for handling personal data will increase takedown and content-restriction activity under the guise of privacy or security, which will disproportionately remove niche or minority content from major platforms and push users toward smaller, less-regulated sites for banned or controversial material.

- The nationality and residency constraints for data-center leadership and DPOs will create acute demand for senior Chinese privacy and cyber-security professionals, driving up compensation for qualified candidates and motivating organizational restructuring or onshore hires to meet compliance rules.

- Multinational tech firms will face a practical choice to localize via Chinese legal entities and certified data centers, to limit the scope of China-processed data using anonymization and edge processing, or to narrow product offerings in-market, any of which will reconfigure partnership models, data flows, and R&D footprints.

- To reduce regulatory exposure, platforms will likely curtail nonessential data collection, simplify cross-service personalization, introduce stronger consent and identity-authentication gating, and slow rollout of data-intensive features, which will reduce targeted-ad revenue but can improve declared user privacy protections.

- The threat of fines, license revocation, and criminal liability will drive conservative legal and product decision-making, larger compliance reserves, and preemptive freezes on contested innovations until explicit regulatory sign-off is obtained.

- Tightened cross-border controls and security assessments will complicate international data-transfer agreements and could become a negotiation point in broader economic and trade discussions, increasing the likelihood of reciprocal measures or heightened scrutiny of Chinese data practices abroad.

- Pragmatically, platforms should immediately inventory China-origin datasets, shortlist compliant DPO candidates and certified data-center partners, implement or accelerate localization and audit-readiness plans, and use the consultation window to seek clarifications on thresholds and procedural timelines to reduce operational uncertainty.

China Deepens Global South Partnerships Through African Initiatives and G20 Engagement

Nov. 24, 2025 | Geopolitics & Defense

Chinese Premier Li Qiang’s recent visit to Africa and China’s broader engagement at the G20 Summit in Johannesburg reflect Beijing’s strategy to promote shared modernization across the Global South.

**During his trip, Premier Li met South African President Cyril Ramaphosa ahead of the G20 Summit and emphasized China’s commitment to deepening bilateral ties and expanding collaboration across economic, technological, and social sectors.**
He framed these efforts as essential to advancing both countries’ development and strengthening continental unity.

**To illustrate this cooperation, Li spotlighted the De Aar Wind Power Project in South Africa.**
Built, developed, and operated by a Chinese company, it stands as Africa’s first wind farm of its kind and now supplies clean electricity to roughly 300,000 households. The project also offers local training in renewable energy technologies, demonstrating China’s focus on capacity-building and technology transfer.

**In Lusaka, Li presided over the ground-breaking ceremony for the revitalization of the Tanzania–Zambia Railway, which he described as a landmark initiative to boost regional connectivity and economic activity.**
He announced additional community-oriented projects along the railway corridor, including new healthcare facilities, poverty alleviation programs, and agricultural support. As one example, Li cited the “Smile Journey” medical program, through which Chinese experts have performed free cleft lip and palate surgeries on about 60 Zambian patients.

**Li also reiterated China’s broader trade and policy agenda under the Forum on China–Africa Cooperation (FOCAC).**
Building on the 2024 FOCAC decision to extend zero-tariff treatment from 33 to 53 least developed African countries, he announced plans to leverage this policy to bolster bilateral trade in sectors such as mining, new energy vehicles, and artificial intelligence. By removing tariffs, China aims to integrate more African nations into global value chains and foster industrial cooperation and modernization.

**The 20th G20 Leaders’ Summit in Johannesburg on November 22–23 marked the first G20 meeting held on African soil and highlighted Africa and the wider Global South.**
Under South Africa’s rotation as host, the summit adopted the themes “Unity, Equity, Sustainability” to bring development issues of emerging economies to the forefront. Participants presented the summit as a turning point, shifting Global South countries from rule-taking to rule-making in the international system.

**Analysts such as Paul Zilungisele Tembe and Gert Grobler point to China’s Global Development Initiative and FOCAC as vehicles for empowering the Global South.**
They argue that development strategies rooted in indigenous civilizational contexts offer a more effective alternative to Western models. In this view, China–South Africa cooperation and similar partnerships will amplify the Global South’s collective voice in international institutions and advance an agenda centered on their development priorities.

**Throughout the summit agenda, leaders discussed paths to inclusive and sustainable economic growth, measures to enhance global resilience, and designs for a fairer development system.**
They reviewed the African expert panel’s recommendations, the Independent Expert Committee’s report on global wealth inequality, and the G20@20 assessment. These documents are expected to guide institutional reforms under future presidencies and ensure Africa’s concerns receive greater attention within a more multipolar and inclusive framework for global development.

Monitored Intelligence for China - Nov. 24, 2025

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警惕ETF高溢价！多家公募基金提示风险

Beware of High ETF Premiums! Multiple Public Funds Warn of Risks

Sina Finance | Local Language | News | Nov. 24, 2025 | UndeterminedInvestor Sentiment

On November 21, multiple public fund companies including Invesco Great Wall, Huaan, Dacheng, Harvest, China Merchants, Cathay, and E Fund issued warnings about high premiums on cross-border ETFs that track overseas indices, particularly those linked to the Nasdaq, but also including some Nikkei, S&P 500, and U.S. 50 ETFs. These funds noted that the secondary-market trading prices of these ETFs are significantly above their net asset values, posing potential loss risks to investors. Some companies also announced measures such as temporary trading suspensions to mitigate these risks.

Data from November 21 indicated substantial premiums, with the Invesco Great Wall Nasdaq Technology ETF trading at an 18.28% premium and the Fullgoal Nasdaq 100 ETF at 10.65%. Other Nasdaq ETFs under firms like Bosera, Harvest, Cathay, Hua Xia, and GF Fund also showed premiums exceeding 5%. ETFs linked to other overseas indices experienced relatively high premiums amid concurrent adjustments in domestic and global markets, especially as the Nasdaq and tech stocks faced corrections.

The high premiums are attributed to strong investor enthusiasm for U.S. stocks, particularly technology-focused indices like the Nasdaq, coupled with limited QDII quotas and restrictions on off-exchange subscriptions, which constrain arbitrage opportunities. This has led to overheated secondary-market demand and persistent premium inflation. Analysts warned that these premiums are fragile and could contract sharply if market sentiment shifts or overseas assets decline, causing rapid price falls and potential liquidity risks if trading suspensions are triggered.

Year-to-date performance shows that Nasdaq-related cross-border ETFs have delivered moderate gains of 10% to 20%, with the best performing reaching 31.8%, which is still below the gains of many Hong Kong-related ETFs that often exceed 30%. This disparity, combined with historically high valuations for Nasdaq stocks and ongoing market uncertainty, suggests risks remain elevated. Experts highlighted that domestic Chinese blue-chips might rebound before U.S. indices stabilize, forecasting continued volatility for these high-premium cross-border ETFs in the near term.

Chinese, Tajik FMs hold first strategic dialogue

Xinhua | English | News | Nov. 24, 2025 | Shifting Geopolitical Alliances

Chinese Foreign Minister Wang Yi and Tajik Foreign Minister Sirojiddin Muhriddin held their first strategic dialogue in Dushanbe on November 22, 2025. Both sides agreed to advance the China-Tajikistan comprehensive strategic cooperative partnership by implementing consensus between their heads of state and deepening mutually beneficial cooperation. They established a strategic dialogue mechanism to facilitate ongoing coordination.

Wang emphasized the strong friendship and partnership guided by Chinese President Xi Jinping and Tajik President Emomali Rahmon, noting recent meetings between the two leaders and plans for bilateral relations development. China expressed readiness to support Tajikistan’s development path, safeguard its national security, and oppose external interference. Wang also reaffirmed China’s commitment to core interests including the Taiwan issue and opposed Japanese militarism’s resurgence.

The two countries discussed expanding trade, investment, and cultural exchanges through platforms like the China-Tajikistan intergovernmental economic and trade committee, Confucius Institutes, and Luban Workshops. China expressed willingness to increase imports of Tajik agricultural products and encourage Chinese enterprises to invest in Tajikistan. Local cooperation and sister-city exchanges were also encouraged to strengthen bilateral friendship.

Security cooperation was underscored as both nations share risks and challenges, with commitments to joint patrols, combating terrorism, and the Global Security Initiative. China supports Tajikistan's enhanced role in the UN and multilateral frameworks including the Shanghai Cooperation Organization and China-Central Asia mechanism. Both ministers acknowledged their long-standing mutual trust and partnership, and exchanged views on cooperation related to the Afghan issue, aiming to promote regional peace and stability.

Following the talks, the two sides issued a joint statement affirming their commitment to deepen strategic cooperation across multiple sectors and maintain high-quality Belt and Road collaboration for mutual benefit.

“停手吧高市！” 超1700名日本民众现场抗议高市早苗错误言论

Stop it, Takashi! Over 1,700 Japanese citizens protest live against Sanae Takaichi's erroneous remarks

China Daily | Local Language | News | Nov. 24, 2025 | Protest, Demonstration, Dissent

On a cold November night in Tokyo, over 1,700 Japanese citizens gathered to protest against Prime Minister Sanae Takaichi’s recent remarks perceived as erroneous and provocative. The protesters, bearing banners and chanting slogans such as "Takaichi's the problem!" and "Rational citizens do not need war!", demanded that she retract statements including "a Taiwan contingency is a Japan contingency," which they viewed as a direct threat to Japan’s security and peace.

Speakers at the protest, including lawyers and Okinawan citizens, emphasized their shared goal of peace, strongly opposing any movement toward war. They criticized Takaichi for using alarmist language about threats to Japan's survival and for pushing policies that deviate from Japan’s postwar peace framework. This framework, established under U.S. guidance, includes the pacifist Article 9 of Japan’s Constitution, which renounces war. Recent government actions such as increased defense spending, reselling “Patriot” missiles to the U.S., and exporting lethal weapons have heightened public concern about Japan straying from its commitment to peace.

China responded sharply to Takaichi’s remarks. On November 21, Chinese Foreign Ministry spokesperson Mao Ning condemned her comments as inflammatory and called for their immediate retraction. Mao stressed that Japan should honor its commitments under the four political documents with China and act to maintain a constructive relationship. She warned that any attempt to revive militarism or undermine the postwar international order would face rejection from China, the international community, and ultimately lead to failure.

The protests and international reactions highlight widespread opposition to any perceived erosion of Japan’s peace-oriented policies. Peace and stability remain critical to regional security, and attempts to undermine them face resistance at both the domestic and global levels.

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