Translator：Zhang Xiaotong

On August 30th, 2023, attorneys Ding Xueming and Xiong Yajie from the Digital Economy Legal Services team were invited by China Life Insurance (Overseas) Company Limited to conduct online training for its employees stationed in regions such as Hong Kong, Singapore, and Indonesia.

Attorney Xiong, under the theme "Overseas Data Compliance Insights", shared content divided into four sections: Key Points on Overseas Data Compliance, Insights into Singapore Data Compliance, Insights into Indonesian Data Compliance, and Considerations for Cross-Regional Data Flow. In the first section, by introducing overseas data processing behaviors, key overseas data compliance concerns were highlighted. The second section, through practical case examples, introduced the Singapore data protection legal framework, compliance requirements for data processing workflows, internal data security management requirements, and compliance requirements for data localization and cross-border transmission. The third section, utilizing practical cases and tying in with the business nature of China Life Insurance (Overseas) Company, introduced the data protection legal system, compliance requirements for data processing, internal data security management, and requirements for data localization and cross-border transfers. The fourth section, given China Life Insurance (Overseas) Company's cross-regional data flow behaviors, highlighted concerns about cross-border data transmission involving Mainland China, Hong Kong, Singapore, and Indonesia.

Image

Following the sharing session, relevant personnel expressed that the information provided invaluable references for the protection of personal information of China Life Insurance (Overseas) Company's clients as well as its employees.

China Life Insurance (Overseas) Company Limited ("China Life (Overseas)") is the only wholly-owned subsidiary of China Life Insurance (Group) Company ("Group Company") located abroad. The Group Company is a major Chinese financial and insurance enterprise. In 2022, its consolidated revenue maintained a trillion-yuan platform, with total assets surpassing RMB 6 trillion. The Group Company has been selected as a Fortune Global 50                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      y0 enterprise for 21 consecutive years, ranking 54th in 2023, and has been chosen among the World's Top 500 Brands for 16 consecutive years, with a brand value of RMB 4,855.67 billion in 2023. In 2016, China Life acquired Guangfa Bank, initiating a new phase of synchronized development across its insurance, investment, and banking sectors.

China Life (Overseas) has a long and storied history, tracing back to 1933, standing by its clients through thick and thin for over 90 years. Under the leadership of the Group Company, it has grown into the largest Chinese-funded insurance company in the Hong Kong and Macao markets and a leading Chinese institutional investor in Hong Kong, with total assets exceeding HKD 460 billion, and making value investments in nearly 50 countries/regions worldwide. China Life (Overseas), based in Hong Kong and Macao and connecting with the mainland, faces Southeast Asia. It has set up branches in Hong Kong, Macao, Singapore, Indonesia, and Shenzhen, covering insurance, investments, and mandatory provident fund services, committed to providing clients with quality life insurance, savings, annuity products, and services. The company's headquarters is located in the China Life Center in Hung Hom, Hong Kong, with seven branch offices spanning across Hong Kong, Macao, Singapore, Indonesia, and Shenzhen.