22 June 2017 :

China's latest cybersecurity law came into force last week and the sky did not fall and companies have not shuttered.
After months of haranguing by foreign chambers of commerce, symposiums about draft versions of the law, and many news stories, the Cybersecurity Law went into effect. The law lists the death penalty as one of the worst penalties related to the state secrets provision in the law.
The law also requires critical information infrastructure operators to protect "important information", though the law does not clearly delineate what information is important. The consensus in this important information refers to state secrets, intellectual property, and consumers' personal information.
The most significant change is that Chinese citizens' "personal information" and "important data" must now be stored on servers within China. Any companies claiming an exception that is "truly necessary" must undergo a security assessment before information can be released.