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Strike a Balance between Privacy Protection and Value Mining to Promote the Sustainable Development of Digital Economy in China (No.85, 2021)


By Chen Daofu & Wang Gang, Institute of Finance, DRC

Research Report, No.85, 2021 (Total 6150) 2021-4-13

Abstract: In the era of digital economy, the core competitiveness of a country rests on the proper protection of users’ privacy, the development of data industrial chain and the common sharing and fully value mining of data. The legal designing of privacy protection is the major factor influencing the development of digital economy. The experience gained by the U.S., EU and Singapore show that promoting data industrial development through the proper protection of data privacy is an important trend of international data development at present. China is pushing ahead with the promotion of basic legislation of individual privacy protection. It is necessary to take into account China’s basic national conditions and social customs, focus on the pattern of international competition of the digital industry, fully consider the future development of China’s digital industry, and balance the privacy protection and data sharing by reasonably designing the legal and policy arrangements. To be specific, first, we need to insist on dynamic and proper protection of personal data. In formulating the Personal Information Protection Law, it is appropriate for us to narrow the definition of personal information and clarify the benchmark of “de-identification” information. The Law of Civil Liability needs to be in line with incentive compliance. Second, we need to promote the building of a government-led and market-oriented multiple personal information sharing mode.

Keywords: privacy protection, data value, digital economy, Personal Information Protection Law