FROM WITHIN AND WITHOUT: Although the US had been the most vocal critic of the new rules, analysts say key opposition also likely came from within Chinese banks themselves, which like their peers around the world run critical operations on industry-standard products, from IBM servers to Oracle Corp databases.
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".
