Some China concepts stocks sink in morning trading
Tiger Newspress2021-08-20
(Aug 20) Some China concepts stocks sink in morning trading.
China has passed legislation setting out tougher rules for how companies handle user data, a move pushing forward its campaign to curb big tech’s influence.
The legislature of the Asian nation approved the Personal Information Protection Law, the China Central Televisionsaidin a report on Friday morning.
Details of the new legislation were not immediately released but earlier drafts required firms to get user consent to collect, use and share information, and to provide a way for them to opt out. Companies found breaking the rules could face fines of up to 50 million yuan ($7.7 million) or 5% of their annual revenue.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
