Date
28 March 2017
US Treasury Secretary Jacob Lew (second from right) meets with Chinese Premier Li Keqiang (R) in Beijing on March 30 to discuss China’s curbs on use of foreign technology products. Photo: Reuters
US Treasury Secretary Jacob Lew (second from right) meets with Chinese Premier Li Keqiang (R) in Beijing on March 30 to discuss China’s curbs on use of foreign technology products. Photo: Reuters

Global trade groups urge China to halt bank tech rules

Global business associations told Chinese officials on Monday that they have strong concerns about bank information technology rules and urged Beijing to formally suspend them, Reuters reported.

In a joint letter, 31 trade associations from the US, Europe and Japan said China’s rules and other policies discriminate against foreign providers of internet and information and communications technology products, solutions and services, the report said.

The “buy domestic” rule is one of several recent moves by China that have antagonized the US and its top technology companies.

A senior US Treasury official said in late March that China had agreed to suspend implementation of the rules, but the business groups – which include organizations representing companies like Apple, IBM, Microsoft, Oracle and Google – said banks were continuing to implement the rules.

“We therefore urge the Chinese leadership to officially suspend implementation of the guidelines through a written public notice, publicize them as a proposal, and initiate a formal public consultation consistent with China’s international obligations,” the trade associations wrote in their letter to the Chinese Communist Party Central Leading Group for Cyberspace Affairs.

The groups, which include the US Chamber of Commerce, the European Services Forum and the Japan Chamber of Commerce and Industry, said they were also concerned about similar initiatives in the telecommunications sector and a broad review of cyber security.

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