A major institutional reform in March 2023 created two new Commissions under the Party: the CFC (Central Financial Commission) and the CFWC (Central Financial Work Commission). The CFC soon dispatched staff to meetings of the central bank, the PBoC (People’s Bank of China), and other major commercial banks, voicing Party interest on crucial matters.
As global firms expand their PRC innovation footprints, data controls are no longer a peripheral concern. The risks are acute in high-stakes sectors like pharma and advanced IT, where fast iteration, global data flows, and real-time feedback separate the quick and the dead.
A major institutional reform in March 2023 created two new Commissions under the Party: the CFC (Central Financial Commission) and the CFWC (Central Financial Work Commission). The CFC soon dispatched staff to meetings of the central bank, the PBoC (People’s Bank of China), and other major commercial banks, voicing Party interest on crucial matters.
As global firms expand their PRC innovation footprints, data controls are no longer a peripheral concern. The risks are acute in high-stakes sectors like pharma and advanced IT, where fast iteration, global data flows, and real-time feedback separate the quick and the dead.
A major institutional reform in March 2023 created two new Commissions under the Party: the CFC (Central Financial Commission) and the CFWC (Central Financial Work Commission). The CFC soon dispatched staff to meetings of the central bank, the PBoC (People’s Bank of China), and other major commercial banks, voicing Party interest on crucial matters.
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