China puts cybersecurity squeeze on US technology companies

US business lobbies have responded with alarm after China’s government moved to force American companies selling technology to Chinese banks to hand over their software secrets and adopt encryption algorithms dictated by Beijing.

The American Chamber of Commerce in China and 17 similar US business groups have called for “urgent discussions” with the Chinese government over the new cybersecurity regulations and urged Beijing to postpone the implementation of the new policies.

In a letter to China’s top cybersecurity policy group dated 28 January, they said the new rules would require “intrusive” security testing and the disclosure of sensitive intellectual property.

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Source: The Guardian

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