China issues guidelines on financial services data amid broader cybersecurity push

BEIJING, June ‌13 - China's ​cybersecurity ​administrators on Saturday moved to tighten the grading and ‌classification of data in the financial ⁠information services sector in what it said ‌would strengthen data security ‌management and regulate industry development.

• The Cyberspace Administration of China said ​data would be classified into four levels-core, important, sensitive general and ⁠routine general-based on importance, sensitivity and the potential harm ​from leaks.

• The move was announced jointly with six other ​departments, including the People’s ‌Bank of China.

• China has in recent years strengthened ⁠its data security framework, moving from top-level legislation to more detailed, sector-specific rules.

• "Financial ⁠information services are developing in an orderly ​manner, and the volume of data is expanding ... which urgently requires standardised, classified and graded ‌management," the guidelines said.

• The rules do not apply ‌to data involving state secrets or ⁠military information.

(Reporting ‌by Beijing newsroom; ​writing by Greg Torode in Hong Kong, Editing by Louise ‌Heavens)

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