China data initiative aims to counter U.S. Clean Network program

  • Under its new "Global Initiative on Data Security," China would call on all countries to handle data security in a "comprehensive, objective and evidence-based manner" and maintain an open, secure and stable supply chain for information and communications technology and services, according to a text released by the Chinese Foreign Ministry.
  • It also would urge governments to respect other countries’ sovereignty in how they handle data—in line with Beijing’s vision of "cyber sovereignty," whereby countries exercise full control over their own corners of the internet.
  • The plan comes a month after U.S. Secretary of State Mike Pompeo announced the Clean Network program, which would exclude Chinese telecommunications firms, apps, cloud providers and undersea cables from internet infrastructure used by the U.S. and other nations. More than 30 countries and territories were part of the U.S. Clean Network program as of early August, according to the State Department.
  • In August, the U.S. also amended a rule that looked to effectively cut Huawei off from key semiconductor supplies, while President Trump signed an executive order banning transactions with TikTok owner ByteDance (BDNCE) and WeChat owner Tencent (OTCPK:TCEHY).
  • "Bent on unilateral acts, a certain country keeps making groundless accusations against others in the name of 'clean' network and used security as a pretext to prey on enterprises of other countries who have a competitive edge," said China's Foreign Minister Wang Yi. "Such blatant acts of bullying must be opposed and rejected."
  • Eight key points of the initiative include not using technology to impair other countries' critical infrastructure or steal data, and making sure service providers don't install backdoors in their products and illegally obtain user data.
  • Previously: Trump considers 'decoupling' U.S. from China (Sep. 07 2020)
  • ETFs: FXI, KWEB, CQQQ, MCHI, ASHR, YINN, TDF, EWH, KBA, YANG, GXC, CAF, CHIQ, CWEB, CYB, CHIX

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