The European Union on Thursday sharply criticized China's new cyber security rules, joining a global effort to challenge measures that U.S. and EU companies say could force them out of the Chinese market. [...]
China's banking regulator has adopted new standards requiring tech products to be "secure and controllable" for use in the financial sector. Those that have not been developed in China must be registered with the government, putting at risk corporate secrets, secure emails and encrypted data.
The United States has led a global push to pressure Beijing to change course, the latest friction in a difficult trade relationship between the West and the world's no. 2 economy.
[...]
The European Commission's report follows a letter from European and U.S. companies last month to the Commission asking for help to stop the new rules.
In the Feb. 25 letter, companies said the "worrisome" Chinese regulations "could close the door for many foreign IT companies to the Chinese banking IT market".
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"We oppose demands to require source codes, backdoors and localization of intellectual property by the Chinese government," said Christian Borggreen at technology lobbying group Computer & Communications Industry Association, whose members include Google and Microsoft.
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