Instead, she said, it aims "to establish the foundations for the digital economy over the next 40 or 50 years." "China is not really looking at the short term with this law." "China's new privacy regime is one of the toughest in the world," said Kendra Schaefer, a partner at Beijing-based consulting firm Trivium China. The law is modelled after the European Union's General Data Protection Regulation, one of the world's strictest online privacy protection laws. Tens of thousands of consumers have complained about having to pay more for hailing a taxi using an iPhone than a cheaper mobile phone model or for tickets if they are profiled as a business traveller, China's consumer protection watchdog said. It will prevent companies from setting different prices for the same service based on clients' shopping history. The law aims to protect those who "feel strongly about personal data being used for user profiling and by recommendation algorithms or the use of big data in setting prices," a spokesman for the National People's Congress told state news agency Xinhua earlier this week. The new rules are also expected to further rattle China's tech sector, with companies like ride hailing giant Didi and gaming behemoth Tencent in regulators' crosshairs in recent months over misuse of personal data.Ĭhinese tech stocks including Alibaba and Tencent dipped after Friday morning's announcement.
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