Under US pressure, China agreed to defer the introduction of new rules under which foreign companies must provide access to their technology and algorithms. It is reported Hnews referring to the statement by the US Treasury.
Chinese authorities have decided to postpone the innovation after talks in Beijing US Treasury Secretary Jack Lew with Premier of the State Council Li Keqiang, Vice Premier Wang Yan and Finance Minister Lou Jiwei of China. At the talks Liu pointed out the importance of the planned innovations for the US and China called on the authorities not to rush the introduction of new rules. A US official said that China planned innovations threaten free competition in the technological sphere. Earlier, Obama said that China will have to reconsider the policy in the event that the country wants to maintain business relations with the US.
The intention of the Chinese authorities to demand from foreign IT companies access to their technology has caused in the United States and Europe unexpected reaction - for their producers stood officials of the highest rank. An open letter to the Chinese authorities asked US Secretary of State John Kerry and other members of the Cabinet of the President of the United States.
To reconsider their views on Beijing also asked the association Business Software Alliance, which includes Adobe, Apple, IBM, Microsoft and Oracle, as well as a consortium of Software and Information Industry Association (SIIA), including Google.
Director Carl Shonander SIIA said that China's decision to postpone the innovation - "positive developments". He said that the SIIA expects to make its own contribution to the final wording of the rules of the acquisition of foreign equipment by Chinese banks.
According to the rules, which proposed to introduce the Chinese authorities by the end of 2019 at least 75% of the solutions used by any financial institution in China, should be available for the control of the government. This means that manufacturers will have to disclose the principles of their decisions and give the keys to all the functions of encryption.
In addition to these innovations Beijing is considering a bill, according to which foreign companies will be required to include in their products loopholes to Chinese authorities, if necessary, can freely access the personal data of users. This bill has drawn sharp criticism of US President Barack Obama (Barack Obama).