Abstract:

Due to the differences in core positions of contracting parties and weak cooperation foundations， the cross-border regulatory rules for financial data in the free trade agreements signed by China are not sound， and there are three major difficulties in the localization process in China： confusion of the concept of financial data attributes （what it is）， ambiguity of cross-border classification and grading standards for financial data （what the basis is）， and formalization of the legal obligations of relevant parties （how to do it）. It is necessary to find solutions from the three dimensions of legislation， interpretation and implementation： in the legislative dimension， it is necessary to clearly define the specific connotations and denotations of financial data， thereby clarifying the objects and boundaries of regulation； in the interpretative dimension， it is essential to use legal interpretation methodology to anchor the standards for cross-border classification and grading of financial data， and establish corresponding cross-border regulation schemes for financial data； and in the implementable dimension， by strengthening the implementation of responsibilities， relevant parties are forced to fulfill their legal obligations in accordance with the laws to ensure the implementation of relevant regulatory rules.

Key words: cross-border financial data, data sovereignty, free trade agreements （FTAs）, data security law