China suspends invasive cyber security rules
China's banking regulator last week temporarily suspended controversial cybersecurity rules demanding technology vendors hand over their source code to the state, exposing the practical challenges of the nation's campaign to cut dependence on foreign technology.
In a notice reviewed by Reuters, Chinese regulators said the decision on the rules, which would have effectively replaced foreign tech products with domestic alternatives, came after "financial institutions in the banking industry and related parties put forward opinions for improvements and proposed changes".
Although US technology firms, business lobbies and the White House have been the most vocal critics of the new rules, analysts say key opposition also likely came from within Chinese banks themselves, which like their peers around the world run critical operations on industry-standard products, from IBM servers to Oracle databases.
