Head of Volkswagen in China asked Premier Li Qiang for clarity on new anti-espionage law

<p>Earlier this year concerns were raised over China's new law against espionage that tightens state control over a wider swath of data and digital activities.</p><p>As <a href="https://www.forexlive.com/news/chinas-new-espionage-law-likely-to-discourage-foreign-capital-inflow-cut-economic-growth-20230427/" target="_blank" rel="follow">posted back then</a>:</p><ul><li>“The business community necessarily needs information,” said Lester Ross, a Beijing-based lawyer and chair of the policy committee at the American Chamber of Commerce in China. “There is therefore a risk that people will be unable on behalf of their companies to gather sufficient information for fear of being branded an espionage agent.”</li></ul><p>That concern has played out in reluctance to further invest in China. Indeed head of VW in China has specifically addressed Premier Li Qiang.</p><ul><li>said that the carmaker needed clarity on cross-border data transfers in a meeting with the country's Premier Li Qiang</li><li>

"As a globalized industry, the transformation of the automotive sector highly depends on international exchange of personnel, data and knowledge. We therefore need more clarity on cross-border data transfers," the VW exec said, according to a copy of the speech held at a World Economic Forum meeting in Tianjin.</li></ul><p>Info comes via <a href="https://www.reuters.com/business/autos-transportation/volkswagen-china-chief-asks-chinas-premier-li-clarity-data-transfers-2023-06-27/" target="_blank" rel="nofollow">Reuters</a>, link for more. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.