China suspends new bank-technology rules: WSJ

[BEIJING] China suspended bank-technology rules that Washington complained represent unfair regulatory pressure on foreign firms, the Wall Street Journal said, citing an official notice.

The notice says rules to improve the security of banking technology had been suspended until further notice while the government takes feedback from the banks, WSJ added.

China was working on an anti-terrorism law that would require foreign companies to hand over encryption keys, triggering US protests.

Reuters reported in March that China had agreed to delay implementing the technology restrictions.

REUTERS