Policies vary widely among the major players in the digital economy, and the global regulation of cross-border data flow faces a dilemma. National security, industry development, and personal privacy protection are the main concerns of regulatory measures for cross-border data flows. From the perspective of international competition and cooperation, the United States has been advocating conditional cross-border data flow, relying on its advantages in technology and discourse power to continuously expand the scope of data jurisdiction, relevant practices deserve high attention. In comparison, China still faces some problems in the regulation of cross-border data flow, mainly in the aspects of insufficient technology supply capacities and imperfect governance systems. This paper claims that, we should improve the technical level of data flow measurements and accurately study and judge the impact of cross-border data flow on China's economy and security based on the development stage and characteristics of China; encourage the R&D and applicate of the enhanced privacy technologies, and risk prevention of personal control over data; amplify the system of ruling by cross-border data flow,, start from pilot projects to explore regulatory innovation; narrow the digital divide, strengthen the influence of data governance in Asia-Pacific and other regions.