As shown on the official website of the Ministry of Commerce on 23 July 2021, the Ministry of Commerce, the Office of the Central Leading Group for Cyberspace Affairs, and the Ministry of Industry and Information Technology jointly issued the “Working Guidelines for Outbound Investment and Cooperation on Digital Economy” (“the Guidelines”, 数字经济对外投资合作工作指引).
The Guidelines encourages enterprises to seize opportunities in overseas digital infrastructure markets, invest in communications network infrastructures such as land-based and submarine optic cables, broadband networks and satellite communications, infrastructure for computing power such as big data centers and cloud computing, and smart infrastructures such as artificial intelligence and 5G networks so as to provide digital services globally. Enterprises are also encouraged to explore the market potential of upgrading and rebuilding traditional infrastructure, and actively participate in the digital, network-based, and intelligent upgrading and rebuilding of such traditional infrastructure as municipal administration, transportation, energy, power, and water conservancy in the countries where they invest.
The Guidelines also emphasizes the prevention and control of risks in outbound investment by enterprises engaged in the digital economy, encouraging enterprises to improve their internal compliance systems, calling for their strict implementation of Chinese legislation on the security management of data cross-border transfer, compliance with the international common rules, and laws and regulations of the countries where they invest; and proper response to the examination and regulatory measures in the field of the digital economy. Besides, the Guidelines encourages enterprises to enhance the awareness of intellectual property protection and improve the data security management system; and to closely track and make full preparations for the latest policy trends in the anti-monopoly and additional digital tax collection in the global digital economy.
Cover Photo by billow926 (https://unsplash.com/@billow926) on Unsplash
Contributors: CJO Staff Contributors Team
