BEIJING: China's bank regulator temporarily suspended this week new financial industry cybersecurity rules after feedback from banks, showing the practical challenges of the nation's long-term effort to cut dependence on entrenched foreign technology.
In a notice issued on Monday and 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".