Cyber Considerations for Banking Expansion into China

Navigating a complex and ever-evolving cyberspace

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Matt Miller

Manager Advisory, Strategy - PDT, KPMG US

+1 213-630-2288

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Karolina Oseckyte

Director, Cyber Security Services, KPMG US

+1 305-358-2300

ANCHOR TITLE FACTS

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Survey highlights

62% cite unforeseen geopolitical risks as a top organizational challenge in MANAGING impacts of inflation
82% expect to raise prices by the rate of inflation (52%) or more (30%)
72% envision passing on price increases in three to six months
74% are looking at right-sizing staff as a means of offsetting the impact of inflation
Nearly 40% plan to allow all employees to work remotely to reduce real estate and related spending
65% anticipate increasing their technology spend by 5% to 20% to mitigate inflationary impacts

China accelerated opening its financial sector in the past few years to allow foreign organizations to operate wholly-owned ventures, permitting unprecedented access into the world’s second-largest capital market. In response, international financial institutions seek to capitalize on the lucrative opportunity and expand their business in mainland China. While the profit opportunity is substantial, the cybersecurity considerations are significant as multinational financial entities navigate a complex, ever-evolving cyberspace with China’s vast and stringent cybersecurity national standards.

Download the PDF to explore the history of foreign banking in China¹, enforcement of new cybersecurity, and key considerations.

Cyber Considerations for Banking Expansion into China

Download PDF

Footnotes

¹China lifts foreign ownership limits on securities, fund management firms, April 2, 2020. The State Council Information Office, The People’s Republic of China

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