On the Regulation of Cross-border Data Flow in Bankruptcy Proceedings in China
Due to the global nature,sensitivity,and data concentration characteristics of cross-border bankruptcy,it is necessary to regulatethe cross-border data flows in bankruptcy proceedings.The simple and fragmented regulatory approach in China is not conducive to advancing bankruptcy proceedings and ensuring data security.There are deficiencies in the cur-rent regulation of cross-border data flows in China's bankruptcy procedures,including uncoordinated conflicts among multiple objectives,difficulties in determining data assets eligible for cross-border transactions,insufficient regulation of con-ditions for cross-border data transactions,inadequate remedies that do not fit bankruptcy scenarios,and the lack of a sharing mechanism for cross-border bankruptcy data.China should improve the regulation of cross-border data flows in bankruptcy proceedings according to its national conditions,based on the coordination between data security protection and bankruptcy procedures with multi-level and multi-angle regulation.Specific measures include enhancing the consistency and coordination between bankruptcy and non-bankruptcy laws and regulations,clearly defining the scope of data assets eligible for cross-bor-der transactions during bankruptcy,improving the multiple regulations governing cross-border data transactions,refining the remedy modes for breaches of data protection obligations,and actively establishing a data-sharing mechanism in cross-border bankruptcy proceedings.
bankruptcydigital assetscross-border data flowdata security
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