The annual inflation rate in Hong Kong skyrocketed to 4.5 percent in September of 2022 from 1.9 percent in the previous period. a) data localization / data residency laws that mandate retention of personal data or a copy thereof in the local jurisdiction (include whether copies or the original data may be also be stored outside of the jurisdiction): . First, data held with vendors is encrypted, so an AWS, Google or Microsoft wouldnt know where the specific data requested by SFC would sit. Historical Landslide Catchment, New Unlike most transnational corporations that adapt local culture to accommodate local tastes in foreign markets, we . Hong Kong: Coronavirus Pandemic Country Profile. The legislation needs an overhaul, but getting amendments or new laws passed in Hong Kong is a quagmire. (Reporting by Alun John; Editing by Jennifer Hughes and Himani Sarkar). Start your free trial to access unlimited articles, resources, guidance notes, and workspaces. The use of personal data in direct marketing without the data subject's consent is a criminal offence punishable by a fine of HK$500,000 and imprisonment of up to five years. Tel: +852 6778 7098. The table also specifies the abbreviation of the relevant country-specific environment that you'll see in the admin center. Put these scenarios in Russia or China and American tech companies would be up in arms. Copyright 2020 Digital Finance Media Limited. You have out of 5 free articles left for the month. Brief: Dataset UrbanNav-HK-Data20190428 is collected in a typical urban canyon of Hong Kong near TST which involves high-rising buildings, numerous dynamic objects. Hong Kong Chung Data Center is built according to world-class standards, with 24 x 7 x 365 operations by a team of professionals. Moovit is the #1 local transport app in the world trusted by over 140 million users across more than 2000 cities in 44 languages. Finally, the table and states whether the localization is provided by . Topic: Data localization - trends and considerations from a cybersecurity perspective: Speaker: Alvin Li. Focusing on data localisation in the context of data privacy and the governance of globalised data flows, the report proposes a definition for data localisation, outlines a roadmap to ensure that data localisation does not impede transborder data flows, and makes recommendations to support such work. Val Yaps tale of being a female fintech founder offers wisdom for startups and women in the industry., DigFin looks at the bidders with an eye on who has a credible wealth-management story., Urszula McCormack, partner at law firm King & Wood Mallesons. 2 old maps in the scale 8 inches to 1 mile (1 : 7 920) depict the topography of the Kowloon Peninsula in 1947 and 1963. data localization MNCs in the News-2021-September China Ministry of Commerce (MOFCOM) looking at negative list for cross-border services trade in the country's free trade zones (FTZs). Industry bodies negotiating with the SFC to soften the rules include the Asia Securities Industry and Financial Markets Association (ASIFMA), whose members include the worlds largest financial firms, and the Hong Kong Securities Association (HKSA), representing local brokers, one source said. The PIPL moves to resolve these uncertainties with respect to cross-border transfer of personal data, but in a way that multinational organizations will likely find challenging in practice. Prior to joining Sidley, Shu Min practiced at a magic circle firm in the UK. Kong Enterprise is the fastest, most feature-advanced, and secure API management solution built on Kong Gateway the world's most adopted API gateway. "I was delighted to make use of Pangeanic's SMT developments with TAUS TDA Data and their customization to our publishing needs." . 43 open jobs for Localization manager in Hong Kong. DLA Piper Intelligence brings together knowledge sites that answer legal questions from our clients around the globe. San Francisco. One critical aspect of these new legislative attempts has to do with Vietnam's data localization requirements. An SFC spokesman declined to comment. The data user has taken all reasonable precautions and exercised all due diligence to ensure that the data will not, in that place, be collected, held, processed, or used in any manner which, if that place were Hong Kong, would be a contravention of a requirement under the Ordinance. In which case, they may not serve customers based in Hong Kong. All about Hong Kong: Not Macau Cantonese, not Guangzhou Cantonese, but Hong Kong Cantonese! Do you have questions or feedback for DATA.GOV.HK? Out of a total of 28, ten data centers offer remote hands support, you can host . What are QR codes, and their role in mobile money? Shu Min is fluent in English and Mandarin. China's Ministry of Industry and Information Technology publishes draft regulations relating to the classification of data and data export restrictions. 33. Traffic data from Traffic Data Analytics System, The Second Hong Kong Population-based Food Consumption Survey (2018-2020), Accumulative Number of Senior Citizen Cards issued, ELECTRICAL AND MECHANICAL SERVICES DEPARTMENT, Approved Student Number Targets (Full-time equivalent) of UGC-funded Programmes by University and Level of Study, Average Annual Salaries of Graduates of Full-time UGC-funded programmes who were in Full-time Employment by Level of Study and Broad Academic Programme Category, AGRICULTURE, FISHERIES AND CONSERVATION DEPARTMENT, CIVIL ENGINEERING AND DEVELOPMENT DEPARTMENT, Ground Investigation (GI) and Laboratory Test (LT) Records, Regional Weather in Hong Kong - the latest 10-minute mean wind direction and wind speed and maximum gust, Regional Weather in Hong Kong - the latest 1-minute global solar radiation and direct solar radiation and diffuse radiation, Regional Weather in Hong Kong - the latest 1-minute mean grass temperature from 5:00 p.m. to 8:00 a.m. the following date Hong Kong time, Regional Weather in Hong Kong - the latest 1-minute mean sea level pressure, Statistics of (i) Standard Patent (Reregistration) Applications with Designated Patent Applications based on Patent Cooperation Treaty (PCT) applications; and (ii) Short-term Patent Applications based on PCT Applications, Statistics on Complaints Handled by Lump Sum Grant Independent Complaints Handling Committee, Statistics on Residential Care Services for the Elderly, Statistics on Standardised Care Need Assessment Mechanism for Elderly Services, https://data.gov.hk/filestore/feeds/data_rss_en.xml. Microsoft may replicate to other regions for data resiliency, but Microsoft will not store or process customer data outside the selected Geo. It consists of Hong Kong Island, originally ceded by China . After . In one of the more animated discussions here at the International Conference of Data Protection and Privacy Commissioners in Hong Kong, a diverse panel of privacy professionals, policymakers and former regulators debated the future of global data localization law. Statistics of (i) Standard Patent (Reregistration) Applications with Designated Patent Applications based on Patent Cooperation Treaty (PCT) applications; and (ii) Short-term Patent Applications based on PCT Applications, New She also advises clients on data privacy, cybersecurity, bribery and money laundering issues. Economic & Financial Data for Hong Kong. Chinese, Hong Kong, commonly referred to as Cantonese, is the variant of the Chinese language spoken in the Hong Kong Special Administrative Region. Age Distribution of Lifts, New Save and organize information most relevant to you, Share your research and collaborate with other DataGuidance users, Get alerts based on your topics of interest, Understanding the New CPRA Draft Regulations & the ADPPA, UK: Overview of the Data Protection and Digital Information Bill, International: China's draft Standard Contract for cross-border data transfers - Implications and comparison against EU SCCs, Russia: Amendments to the Law on Personal Data - strengthening privacy compliance, 1.1. ), What is the India Stack? For a fuller explanation of the DSBB and the statistical standards . Data held and used by the Hong Kong government to govern the security, defence and the international relations of the country. Statistics of (i) standard patent (reregistration) applications with designated patent applications based on PCT applications; and (ii) short-term patent applications based on PCT applications are provided in CSV format. Create an account to continue accessing select articles, resources, and guidance notes. But handing over data to the SFC could mean breaching other governments confidentiality requirements, such as the European Union that has strict data protection rules, global cloud providers say. Shu Min Ho represents clients in complex, multi-jurisdictional investigations and commercial disputes across a broad range of sectors. China VAT Interface is a China Localization for Microsoft Dynamics to exchange data with the Golden Tax System in flexible manners. Laurence Van Der Loo, director for operations and technology at ASIFMA, says this raises three problems. See here for a complete list of exchanges and delays. There are ten carrier neutral data centers in Hong Kong. For insight into handling children's personal data in Australia, China, India, and Japan, please see part one here. This webinar explores what is new in the draft CPRA regulations and the ADPPA, as well as the key considerations for companies. Global tech companies have long. Survey of Drug Use among Students, New What is data localization? Create a new company DB in Hong Kong Localization. The 2022 Guidance is split into three "parts": Part 1 is an introduction of the 2022 Guidance and the rationale underpinning it; Boundary of Scheduled and Designated Areas, New The GDPR, subprocessors, data transfer, and government access Select your geography Most Azure services enable you to specify the region where your customer data will be stored and processed. Google is dominating the search engine market in Hong Kong. DLA Piper Intelligence. DataProtection Authority| RegulatoryAuthority, 3.2. Main powers, duties and responsibilities, 5.6. For example, China's Cybersecurity law is an excellent example of data localization. It has used search warrants 14 times between April and December 2019, according to law firm Freshfields calculations. Provide regional Weather in Hong Kong - the latest 10-minute mean wind direction and wind speed and maximum gust (the data provided is provisional), Provide regional Weather in Hong Kong - the latest 1-minute global solar radiation and direct solar radiation and diffuse radiation (the data provided is provisional), Provide regional Weather in Hong Kong - the latest 1-minute mean grass temperature from 5:00 p.m. to 8:00 a.m. the following date Hong Kong time (the data provided is provisional), Provide regional Weather in Hong Kong - the latest 1-minute mean sea level pressure (the data provided is provisional). HONG KONG, March 11 (Reuters) - Hong Kong is considering softening new data storage rules, amid concerns of conflict with confidentiality laws elsewhere as authorities globally look to. What is brain-to-computer tech? Second, the Hong Kong arm of a broker may put its data on a public cloud, where it commingles with data from that firm's Singapore or U.S. office. But it also tacked on a clause that took the industry by surprise and has led hedge funds, prime brokers, private-equity firms and high-frequency trading shops to review their Hong Kong businesses. Huaweis Genovese explains, What is Federated AI? The Second Hong Kong Population-based Food Consumption Survey (2018-2020), New In other words, according to these external voices, the SFC has been burned by small-time local brokers who lacked the capacity to pay for proper compliance, or were dodgy. Search Localization jobs in Hong Kong with company ratings & salaries. But industry bodies are working with SFC on some frequently asked questions to clarify the rules - to make compliance easier without limiting the regulators ability to obtain data during investigations, one of the people added. Get colocation pricing now! [Last updated: April 2022] The materials herein are for informational purposes only and do not constitute legal advice. Take control of your APIs across any environment. Location of Landslide Incidents, New Every 10 Minutes. Or you could just subscribe to DigFins newsletter. Regional Weather in Hong Kong - the latest 1-minute global solar radiation and direct solar radiation and diffuse radiation, New The data on the coronavirus pandemic is updated daily. The rules, published in an October circular and effective from June 2020, require banks and other regulated groups to store data locally or ensure their cloud provider guarantees to hand over information on request to Hong Kongs Securities and Futures Commission (SFC) without notifying their client. She also advises clients on data privacy, cybersecurity, bribery and money laundering issues. She points to text in the circular in which the undertaking required by vendors must conform substantially to an SFC template. In fact, it seems intended to affirm Hong Kong as a place where financial institutions can place data with overseas cloud vendors, data storage centers, and messaging platforms. From simple server colocation to tailor-made managed services, we offer complete one-stop solutions. The data center is located within the city of Hong Kong. Under the "one country, two systems" approach, Hong Kong is an entirely separate jurisdiction from Mainland China and has its own privacy and cybersecurity laws. Neither sources wanted to be named as the negotiations are private. It expects over 30% of the population to be above 65 by 2041. Average Annual Salaries of Graduates of Full-time UGC-funded programmes who were in Full-time Employment by Level of Study and Broad Academic Programme Category, New Ground Investigation (GI) and Laboratory Test (LT) Records, New Philippa Allen, CEO of ComplianceAsia, a consultancy, said, A vendor may have some servers [in Hong Kong], but the data is not here its distributed across global backups and global relays. We have found building footprints for 24 facilities in Hong Kong, adding up to 477,519 square feet, with the largest building covering 72,064 square feet, and containing the Evoque_Hong Kong - HK2 facility. HONG KONG, March 11 (Reuters) - Hong Kong is considering softening new data storage rules, amid concerns of conflict with confidentiality laws elsewhere as authorities globally look to balance regulatory requirements, companies needs and privacy concerns, two people said. Provides an overview of the key privacy and data protection laws and regulations across the globe. The data shown in this page correspond to the data described on the International Monetary Fund's Dissemination Standards Bulletin Board (DSBB). If the SFC asks the vendor to hand over this data, it could put the vendor in a position of having to breach the privacy of the client in other jurisdictions. Identification of a PTEN mutation with reduced protein stability, phosphatase activity, and nuclear localization in Hong Kong patients with autistic features, neurodevelopmental delays, and macrocephaly . Russia's new data localization law, Federal Law No. A number of games have been banned for "smearing the image of China and the Chinese army" ( Command and Conquer: Generals, I.G.I.-2: Covert Strike ). Search Localization manager jobs in Hong Kong with company ratings & salaries. Barbecue Sites in Country Parks, New The dataset provides information on Foster Care Service by number of Foster Homes and by number of Foster Children in Placement, Information on residential care services by type of homes, number of homes, number of places, Number of Referrals Received for Assessment and Number of Assessments Completed. People familiar with its discussions with industry say the SFC insisted on upholding the principle that it treats all firms equally big or small, local or international. And the fallout risks moving Hong Kong out of the category of jurisdictions in which data can confidently move and be stored across borders. However, in late 2014, Russian President Vladimir Putin signed a law changing the data localization law's effective date from September . Or they wont be able to get big vendors to agree [to the undertaking]. Data Localization laws can be broadly classified under "Data Sovereignty". Consultation with industry associations held as early as mid-2018 were meant to give the SFC confidence that it can continue to supervise and enforce the law as data moves from physical filing cabinets to virtual storage. Hong Kong, special administrative region (Pinyin: tebie xingzhengqu; Wade-Giles romanization: t'e-pieh hsing-cheng-ch') of China, located to the east of the Pearl River (Zhu Jiang) estuary on the south coast of China. 2 China's recently published Data Security Law . Image: Statista 2. Nandan Nilekani explains, What is 5G for fintech? Daily prevailing wind direction, New Statistics on Residential Care Services for the Elderly, New Accumulative Number of Senior Citizen Cards issued, New an independent media company based in Hong Kong. What are stablecoins and why do they matter? The immediate brunt of the SFCs mandate, however, falls on service providers such as cloud vendors, data service centers and messaging platforms the infrastructure of reporting on money and transactions. Dezan Shira & Associates combines technological proficiency and local knowledge in advising and assisting clients with IT systems in Asia. Prior to joining Sidley, Shu Min practiced at a magic circle firm in the UK. No. China, Russia, and India). Email: info@into23.com. I have to create a new company DB with Hong Kong Localization, but I can't find it in the list. Second, the Hong Kong arm of a broker may put its data on a public cloud, where it commingles with data from that firms Singapore or U.S. office. But some observers disagree with that assessment. Can Singapore virtual banks actually make money? By signing up you agree to OneTrust DataGuidance's Terms and Conditions and Privacy Policy. senior executives who can be arrested if the SFC suspects data has been destroyed or altered. The SFC wants to know how it can exercise supervision and enforcement if it cant exercise a dawn raid or if the institution itself has problems accessing its data, said Urszula McCormack, partner at law firm King & Wood Mallesons. The uneasy status quo for a number of years has been one of concern that China would introduce broad based data localization. The region is bordered by Guangdong province to the north and the South China Sea to the east, south, and west. It means vendors must change their business models in order to comply.. Patient . Bloomberg, Hong Kong job: Apply for Localization Coordinator - Hong Kong in Bloomberg, Hong Kong. Approved projects under Public Sector Trial Scheme - Special Call for Projects for the Prevention and Control of Coronavirus Disease 2019 (COVID-19) in Hong Kong (PSTS-COVID-19), New Hong Kong issued significant new amendments to the PDPO in 2012 with a key focus on direct marketing regulation and enforcement with respect to the use of personal data. Discover what topics are trending at the moment. Join our community for free to access exclusive whitepapers, reports, and regulatory information. Legitimate interests of the data controller, 8.7. It's different from data sovereignty but both of them are a reflection of cloud adoption readiness. That doesn't mean, however, that companies based in Hong Kong won't be subject to . The following table provides the list of all countries/regions where Dynamics 365 Business Central is available or in planning for future availability. Statistics on Standardised Care Need Assessment Mechanism for Elderly Services, New There's another demand that European governments and repressive regimes alike are making and, in the long. Australia: Tel . Click here for trending data centers in Hong Kong. the missing link in blockchain applications Things to Consider for the Localization and Translation of Your Business in Portuguese What is NLG and how does it work with the Natural Language . New Year's Day; Lunar New Year; You're all set to get top regulatory news updates sent directly to your inbox, You will receive an activation email shortly with verification instructions, This site is protected by reCAPTCHA and the Google. Local storage also means international players must separate Hong Kong-specific data, which is difficult. The circular marks the first time that Hong Kong has stipulated how banks should store information. The regulator has in recent years taken a more aggressive stance against market misconduct after a series of wild price swings in Hong Kongs markets. Here are the four Rs (4R) you should consider for successful Chinese game localization: I. Rewrite. To be clear, the SFC circular of October 31, Use of external electronic data storage, does not explicitly obstruct this. Hong Kong. China's Cybersecurity Law (CSL) serves as the foundation for legal requirements on data localization and cross-border data transfer. About . The SFC wants to know how it can exercise enforcement if it cant exercise a dawn raid. For example, Hong Kong does not require data localization, unlike the PRC's code that requires data localization and takes a restrictive and pro-government view about the flow of. Vendors must change their business models in order to comply, Industry associations are upset because they say this vital clause was inserted without consultation. There is now no requirement of localization with respect to personal data. To put it simply, data localization laws are special regulations enforcing how data can be processed and transferred in a certain territory. Some commentators worry that the answer will be: not a lot. Queue Associates Worldwide China, Ltd., based in the Causeway Bay section of Hong Kong, supports Microsoft Dynamics 365 and other platform . Hong Kong 's population is expected to reach 8.469 million by 2041, with 52100 births and 82,400 deaths predicted by The Census and Statistics Department. But by publishing the circular on electronic data storage without full consultation, as alleged by industry associations and dumping the onus on vendors the SFC is taking a different risk: that not everyone will comply, and some market participants will reduce their activities in Hong Kong. Dynamic objects countries/regions where Dynamics 365 business Central is available or in planning for future availability and... 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Jobs in hong kong data localization Kong localization provides an overview of the country Landslide Incidents, Every! Know how it can exercise enforcement if it cant exercise a dawn raid law No data confidently...
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