But the broad and vague nature of new regulations has spurred concerns about compliance, and the penalties for falling short. Morgan Stanley, for one, is shifting more than 200 technology developers — about a third of the tech cohort — out of mainland China after the country tightened access to troves of data stored onshore. Every business has been forced to weigh the costs of complying with cybersecurity and data security laws with the benefits of operating in the world’s No. 2 economy, said Tom Nunlist, a Shanghai-based associate director at Trivium China who focuses on tech policy. ‘Extremely strict’...