Currently, the digital power struggle centered around cross-border data flows has entered a critical phase, with the global competition landscape taking shape. China places high importance on the security governance of cross-border data flows and, after several iterations and optimizations, has developed a unique governance model that balances data security and development. This model offers a Chinese solution to the global data governance challenge. This study analyzes the multiple challenges in achieving secure and trusted cross-border data circulation, deconstructing the existing global governance competition from three perspectives: international organizations, trade agreements, and major economies. It provides a comprehensive examination of China's governance model that balances data security and development. Grounded in the overall national security concept, this model aims to "coordinate security and development", with secure and trusted data circulation as the evaluation benchmark. It reflects strong Chinese characteristics and innovative elements, supporting strategic goals such as national security, digital trade promotion, and expanding opening-up. Based on this, the study offers policy recommendations for the further enhancement of China's governance framework from a global perspective. These recommendations focus on optimizing governance principles, fostering international cooperation, prioritizing technological governance, strengthening talent development, and advancing international advocacy initiatives.