BlackRock Adopts Restrictions for Employee Travel to China

Technology

BlackRock Adopts Restrictions for Employee Travel to China

4 months ago

News sources:

BLOOMBERG

INDIATIMES

TRTGLOBAL

BlackRock Adopts Restrictions for Employee Travel to China

Credited from: INDIATIMES

BlackRock restricts company devices for employees traveling to China.
Staff must use temporary loaner phones and avoid company laptops.
New policy reflects growing corporate caution amid US-China tensions.

BlackRock Inc. has implemented restrictions for staff traveling to China, mandating the use of temporary loaner phones and prohibiting the use of company-issued devices such as laptops, iPhones, and iPads. This policy enhancement, effective July 16, aims to address rising concerns regarding employee security and data risks while conducting business in the country, according to Bloomberg and India Times.

This travel restriction reflects escalating corporate anxiety regarding working conditions in China amid geopolitical tensions between the U.S. and China. High-profile instances of corporate executives being prevented from leaving the country have contributed to this cautious approach, with incidents involving both a Wells Fargo banker and a U.S. Patent and Trademark Office employee, as reported by Bloomberg and TRT Global.

Additionally, BlackRock's decision aligns with broader challenges facing international businesses as they navigate compliance with China's stringent data security laws. This has led various asset managers to invest in local data centers to handle information, significantly complicating operations in what is described as an increasingly complex regulatory landscape, according to India Times and TRT Global.