07:24 AM EDT, 05/17/2024 (MT Newswires) -- Shanghai has compiled a list of "ordinary data" that can be transferred overseas without security assessments as sought by Tesla (TSLA) and other automakers, Reuters reported Friday, citing a government document.

Under a one-year pilot project, companies in Shanghai's free-trade Lingang Area, where Tesla's factory is located, can transfer data on the intelligent and connected vehicles, mutual funds, and biomedicine sectors without further security checks, according to the report. The list of transferable data in Shanghai will expand over time, Reuters said.

Shanghai's pilot project addresses demands for clearer cross-border data transfer policies, a topic discussed during Tesla Chief Executive Elon Musk's recent meeting with Chinese officials, according to the report.

Tesla has been working to obtain regulatory approval to transfer data from its electric vehicles out of China for its "Full Self Driving" system, Reuters said, adding that Volkswagen has emphasized the need for clarity in data exchange as the auto sector's transformation depends on the international exchange of data, personnel, and knowledge.

Tesla did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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