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China cybersecurity law likely to harm foreign firms operating on mainland, says Asia finance body chief

The chief of one of Asia’s most prominent financial trade bodies said on Tuesday new cybersecurity legislation in China could make it harder for foreign companies operating in the country to manage risk as threats increasingly span across borders.

Mark Austen, chief executive of the Asia Securities Industry and Financial Markets Association, told a forum in Hong Kong that the rules marked a “worrying” development because regulators globally have to work together to address cyber risks rather than attempt to isolate their jurisdictions.

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