The new agency could help Beijing tighten its grip over the valuable information gathered by swaths of the economy, including its internet industry. The government has sought to limit the power of its growing private sector by gaining control over the vast quantities of data generated across the country.
“National security concerns have brought the issue of data protection to the fore, on both sides of the divide,” said Tiffany Tam and Robert Lea, analysts with Bloomberg Intelligence. “While there are genuine concerns, the issue is becoming increasingly politicized.”Beijing also elevated the rank of its patent regulator — which will now report directly to the State Council — with the goal of improving China’s ability to create and protect intellectual property.
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Business Maverick: Tesla’s China Price War Sparks $18 Billion BYD Rout: Tech WatchA Tesla Inc.-inspired price war among electric vehicle makers in China is taking a toll on even the most resilient players, as evidenced by BYD Co.’s staggering $18 billion drop in the past month.
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Business Maverick: China warns US risks catastrophe with moves to ‘contain’ BeijingChina’s new foreign minister warned that soaring US-China tensions risk blowing past any guardrails in the relationship and could have dire consequences for relations between the world’s two biggest economies.
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Business Maverick: US legislators step up push to ban TikTok this weekUS Senate Intelligence Committee chairman Mark Warner plans to introduce a bill this week to allow the US to systematically ban Chinese technology, including services like TikTok, he told Fox News on Sunday. Just another balloon 🎈 👀
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Business Maverick: Shein’s throne challenged by rival with one of hottest US appsIt took Shein a decade to catch up to Inditex SA’s Zara as the world’s top fast-fashion retailer. Now, a new online upstart wants to topple Shein, at least on one measure, within a year.
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Business Maverick: Landmark UN treaty is poised to curb exploitation of the oceanAn agreement reached on Saturday night on the wording of a historic United Nations treaty to protect marine biodiversity could mark the end of the unregulated exploitation of the ocean, an increasingly urgent concern as climate impacts multiply. What climate change are they talking about? The lied about climate fake ass ridiculous lied about change that's been doing the rounds for hundreds of years? The UN needs to be disbanded as it's not working for the people and is an UN-elected organization.
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