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”.