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BlackRock asks employees to use loaner phones while in China
BlackRock is telling its employees to leave their work laptops behind and use loaner phones when traveling to China.
The move, detailed in an internal memo, is meant to protect company data—no remote VPN access allowed while there.
Why the change
Multinational companies are on edge about data security in China, especially since stricter data laws kicked in back in 2021.
Recent cases—like a Wells Fargo banker being detained and a US official unable to leave China for months—have made these risks feel very real.
BlackRock now stores data locally
To keep operating in China, BlackRock now stores data locally as required by Chinese law.
It's more expensive and makes global teamwork harder, but the company sees it as necessary with all the new rules and rising tensions.