(Beijing Comprehensive News) The US media quoted people familiar with the matter that after tightening the supervision of the storage data in Beijing, Morgan Stanley transferred more than 200 technical developers from mainland China.
Bloomberg News reported on Wednesday (July 19) that people familiar with the matter said that the departure employees are equivalent to more than one -third of the total number of technical personnel in Mainland China. They will mainly be transferred to Hong Kong and Singapore.Most of the personnel's deployment has been completed.
It is reported that Morgan Stanley's move is to cope with the Chinese government's increasingly strict supervision and monitoring of data collection.
People familiar with the matter also said that Morgan Stanley employees who stayed in the mainland have begun to build a system that complies with Chinese regulations.The new facilities or hundreds of millions of dollars cost hundreds of millions of dollars will not be compatible with business systems used in other countries around the world.
During the two sessions of the National People's Congress of China, during the two sessions of this year, a number of reforms proposed by the national institutional reform plan, including the establishment of the National Data Agency.The agency is responsible for coordinating the construction of data basic systems, and coordinating the integration, sharing, development and utilization of data resources.
The Wall Street Journal previously reported that people familiar with the matter said that the National Data Bureau has the right to ban enterprises from collecting some types of consumer data; Chinese companies will also be reviewed when they plan to share data with overseas business partners.Everbright national security.
Report also stated that not only the domestic company is within the scope of supervision, but the outbound exit of transnational companies operating in China will also be supervised and controlled.
