China issues new rules for financial services data in cybersecurity push

Cybersecurity regulator says sector data will be classified into four levels based on importance, sensitivity and potential harm from leaks

China's cybersecurity ??administrators on Saturday moved ​to tighten the grading and classification ??of data in the financial information services sector in what it said would strengthen data security management ​and regulate industry development. 

 

The Cyberspace Administration of China ​said data would be classified into four levels-core, important, sensitive general and routine general-based on importance, sensitivity and ​the potential harm from leaks. 

 

The move was announced jointly with six ​other departments, including the People's Bank of China. 

 

China has in recent years strengthened its data ​security framework, moving from top-level legislation to more detailed, sector-specific ??rules. 

 

"Financial information services are developing ​in an orderly manner, and the volume of data is expanding ... ​which urgently requires standardised, classified and graded management," the guidelines said. The rules do not apply to data involving state secrets or military information.