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<b><i>Online Extra</b></i><br>Are You Ready for the New China Cybersecurity Law?
In December 2016, China passed a comprehensive Cybersecurity Law, expanding the country's data localization requirement once it goes into effect this June and sparking heated debate among Chinese lawmakers. Some experts say even more legislation could be on the way.
With China such an important emerging market for many multinational companies, law firms and legal departments should be as aware of this change as they are of, say, the EU's General Data Protection Regulation, right? Not so, found one recent survey.
In Consilio's survey of 118 legal technology professionals at Legaltech New York, 75% or respondents said they are not familiar with China's new Cybersecurity Law, with only 2% saying they were very familiar. Furthermore, just 14% said they are “very concerned” about this new law, despite 57% indicating that they had at least one legal matter in China over the past year.
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