Key Takeaways:
- Security First:Â BlackRock bans company laptops and iPhones on China trips, requiring loaner devices instead.
- Why It Matters: Move highlights rising cybersecurity risks and Beijing’s growing control over foreign firms.
- Big Picture: American companies are balancing access to China’s market with protecting proprietary data.
BlackRock, the world’s largest asset manager, is taking no chances when it comes to data security in China. According to an internal memo cited by Bloomberg, employees traveling to China for business will be required to use temporary loaner phones and will be prohibited from bringing company-issued devices such as iPhones, iPads, and laptops.
The memo also bans remote access to BlackRock’s network through virtual private networks during these trips. Employees won’t have access to the firm’s internal systems while traveling personally in China either.
While BlackRock declined to comment, the move underscores growing concerns about cybersecurity and intellectual property theft in the world’s second-largest economy. It also comes on the heels of a U.S. State Department alert that Chinese authorities recently blocked a U.S. Patent and Trademark Office employee from leaving the country while on personal travel.
For American firms, the message is clear: global expansion requires vigilance. With Beijing tightening control and data risks escalating, companies are balancing opportunity with security. In an era where information is power, protecting proprietary data isn’t just smart policy—it’s a fiduciary responsibility.