AsianFin -- China has introduced new guidelines aimed at improving the efficiency and standardization of cross-border data transfers involving Chinese and foreign financial institutions, the country’s central bank announced on Thursday.

The guidelines were jointly issued by six government bodies, including the People’s Bank of China (PBOC). According to the statement, the rules provide clearer definitions on scenarios that permit data outflows, as well as a specific list of data types that are allowed to be transmitted across borders.

The move is part of Beijing’s ongoing effort to balance data security with the operational needs of global finance.