On April 11, 2024, the Provincial Communications Administration Bureau (the Bureau) announced that, jointly with the Bureau of the State Financial Supervision and Administration Bureau and the Local Financial Administration Bureau, it issued the Notice on Promoting the Improvement of the Personal Information Protection and Compliance Operation Capabilities of Financial Service Apps.

The Bureau highlighted that the Notice:

• consolidates the main responsibilities of banking and insurance institutions, local financial organizations, and relevant app operators in the protection of personal information;
• provides practical guidelines for personal information protection;
• clarifies the role of institutions in collecting personal financial information; and
• outlines specifications and procedures for storage, use, and processing that will promote the protection of personal information in the financial industry and improve compliance of financial service apps.

Furthermore, the Bureau stated that the three departments also reviewed current laws, regulations, and industry standards and released the Chongqing Financial Services Mobile Internet Applications Personal Information Protection Compliance Guide (V1.0).

Lastly, a joint supervision working mechanism will be established to carry out collaborative governance and joint supervision of financial service apps that collect and use personal information in violation of laws and regulations.

You can read the press release, only available in Chinese, here.