Nova Credit’s establishment brings significant benefits to the development of Hong Kong businesses and the deepening of cross-boundary data cooperation between Beijing and Hong Kong

Since the measures of the “Standard Contract for Cross-border Transfer of Personal Information” were officially put into effect by the Cyberspace Administration of China (CAC) on 1 June 2023, NOVA has become the first Hong Kong company to complete the filing of the standard contract. Our “CROSS-BOUNDARY CUSTOMER CREDIT REPORT VERIFICATION (CBCRV)” is the first approved case of standard contract in the country, enabling compliant outbound transfer of personal information. It signifies an important milestone in NOVA’s efforts to promote cross-boundary circulation of data between Beijing and Hong Kong.

With this valuable standard contract filing experience, NOVA aims to share project cases and explore new directions for the future development of Hong Kong enterprises to promote their active integration into the national development landscape.

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