Standards Comparison

    PIPL

    Mandatory
    2021

    China's comprehensive law for personal information protection

    VS

    ISO 55001

    Voluntary
    2014

    International standard for asset management systems

    Quick Verdict

    PIPL mandates personal data protection for China operations with heavy fines, while ISO 55001 is a voluntary asset management framework for lifecycle optimization. Companies adopt PIPL for legal compliance and market access; ISO 55001 for efficiency and certification.

    Data Privacy

    PIPL

    Personal Information Protection Law (PIPL)

    Cost
    €€€
    Complexity
    Medium
    Implementation Time
    6-12 months

    Key Features

    • Extraterritorial scope targeting services to China individuals
    • Explicit separate consent required for sensitive personal information
    • Cross-border transfers via SCCs, certification, or security reviews
    • Penalties up to 5% annual revenue or RMB 50 million
    • Mandatory PIPIAs for high-risk processing and SPI
    Asset Management

    ISO 55001

    ISO 55001:2024 Asset management — Management systems requirements

    Cost
    €€€€
    Complexity
    High
    Implementation Time
    12-18 months

    Key Features

    • Strategic Asset Management Plan (SAMP) requirement
    • Annex SL structure for management system integration
    • PDCA cycle for continual improvement
    • Formal asset decision-making framework
    • Risk and opportunity separation in planning

    Detailed Analysis

    A comprehensive look at the specific requirements, scope, and impact of each standard.

    PIPL Details

    What It Is

    Personal Information Protection Law (PIPL) is China's comprehensive national regulation enacted in 2021, effective November 1. It governs collection, processing, storage, transfer, and deletion of personal information with extraterritorial reach. Modeled partly on GDPR, it uses a risk-based approach emphasizing consent, minimization, and national security.

    Key Components

    • 74 articles across 8 chapters covering processing rules, cross-border transfers, individual rights, and enforcement.
    • Core principles: lawfulness, necessity, minimization, transparency, accountability.
    • Sensitive personal information (SPI) rules, PIPIA mandates, 7 legal bases (consent-dominant).
    • Compliance via audits, PIPO appointment for large handlers.

    Why Organizations Use It

    PIPL compliance mitigates fines up to 5% annual revenue, enables China market access, builds trust, reduces breach risks. Strategic for MNCs in e-commerce, fintech; enhances resilience, talent attraction.

    Implementation Overview

    Phased framework: gap analysis, data mapping, policies, controls, transfers. Applies to all handling China PI; 6-12 months typical, with ongoing audits. No certification but CAC reviews for transfers.

    ISO 55001 Details

    What It Is

    ISO 55001:2024 is the international standard specifying requirements for an Asset Management System (AMS). It provides a management system framework to establish, implement, maintain, and improve asset management, enabling organizations to realize value from assets across their lifecycles. The primary scope covers asset-intensive organizations, using a risk-based, PDCA (Plan-Do-Check-Act) approach aligned with Annex SL for integration with other ISO standards.

    Key Components

    • Core clauses: Context (4), Leadership (5), Planning (6), Support (7), Operation (8), Performance Evaluation (9), Improvement (10).
    • 72 mandatory 'shall' requirements.
    • Built on ISO 55000 principles and terminology.
    • Certification via third-party audits, with Strategic Asset Management Plan (SAMP) as keystone artifact.

    Why Organizations Use It

    • Drives cost optimization, risk reduction, performance improvement.
    • Meets regulatory, stakeholder expectations; enhances resilience.
    • Builds trust in sectors like utilities, infrastructure.
    • Competitive edge through certification and governance.

    Implementation Overview

    • Phased: gap analysis, SAMP development, process integration, training.
    • Applicable to all sizes/industries with physical assets.
    • Global; voluntary certification recommended.

    Key Differences

    Scope

    PIPL
    Personal information collection, processing, transfer
    ISO 55001
    Asset management systems, lifecycle value optimization

    Industry

    PIPL
    All handling Chinese personal data, global reach
    ISO 55001
    Asset-intensive sectors like utilities, infrastructure

    Nature

    PIPL
    Mandatory law with CAC enforcement
    ISO 55001
    Voluntary certification management standard

    Testing

    PIPL
    CAC audits, security reviews, DPIAs
    ISO 55001
    Internal audits, management reviews, certification audits

    Penalties

    PIPL
    Fines up to 5% revenue or RMB 50M
    ISO 55001
    Loss of certification, no legal fines

    Frequently Asked Questions

    Common questions about PIPL and ISO 55001

    PIPL FAQ

    ISO 55001 FAQ

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