China's central bank, along with the National Financial Regulatory Administration and the China Securities Regulatory Commission, has released a draft of the "Financial Industry Cybersecurity Management Measures" for public consultation. The draft, open for feedback until August 3, 2026, aims to enhance cybersecurity management within the financial sector. Feedback can be submitted via email, mail, or fax. The draft mandates financial institutions to take primary responsibility for their cybersecurity, emphasizing the need for protection levels, network monitoring, data classification, and personal information protection. It also requires the use of commercial encryption to secure networks and critical information infrastructure. For operators of critical information infrastructure, the draft proposes appointing a chief cybersecurity officer, establishing dedicated security management bodies, and conducting regular assessments and emergency drills. Penalties are outlined for non-compliance, refusal to cooperate with regulators, and transmission of illegal information.