Special NoticeNova Credit shared its practical experience in Standard Contract at the Greater Bay Area Standard Contract Seminar
With the increasing demand for cross-boundary data flow between Hong Kong, and other cities in the Guangdong-Hong Kong-Macao Greater Bay Area, on 13th December 2023, the facilitation measures of using the Standard Contract for Cross-boundary Flow of Personal Information Within the Guangdong–Hong Kong–Macao Greater Bay Area (Mainland, Hong Kong) the GBA Standard Contract (GBA SC) were announced by the Cyberspace Administration of China (CAC) and the Innovation, Technology and Industry Bureau of the Government of the Hong Kong Special Administrative Region (ITIB). The facilitation measures seek to simplify the legal and compliant arrangements for cross-boundary transferring personal information from the Mainland to Hong Kong. The implementation of GBA SC provides convenience for businesses and industries in the Greater Bay Area. To deepen the industry’s understanding of the GBA SC, Hong Kong Science and Technology Park organized a seminar named “NAVIGATING NEW HORIZONS Capitalise on Standard Contracts for GBA Cross-Boundary Data Flow” on 5th January 2024. Experts and industry professionals were invited to analyze the new arrangements under the “Standard Contracts” and discuss data governance, aiming to assist Hong Kong companies and organizations in cross-boundary transfer of personal information. Nova Credit’s “CROSS-BOUNDARY CUSTOMER CREDIT REPORT VERIFICATION (CBCRV)” as a Party to the Nation’s First Standard Contract enabling the legitimate outbound transfer of personal information in July 2023. Samuel Ho, the CEO of Nova Credit, was invited to participate in the seminar and share experiences with the Standard Contract for Cross-boundary Flow of Personal Information from the Mainland, as well as insights on the preparation of related tasks.
