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Global Business Associations Urge China to Drop Foreign Tech ‘Black-List’ for Bank IT Procurement

Posted April 14, 2015

Under Economic Issues, International Trade Issues

(James Griffiths – Reuters and South China Morning Post)

Business associations from Europe, the US and Japan have urged Chinese officials to formally suspend new rules forcing state-owned banks to buy technology from domestic vendors.

In a joint letter, 31 trade associations said that they had “strong concerns” about the new rules, which the US trade office has said could breach China’s international trade commitments.

The groups, including the US Chamber of Commerce, the European Services Forum and the Japan Chamber of Commerce and Industry, said the rules and other policies discriminate against foreign providers of internet and information and communications technology (ICT) products, solutions and services. Click here to read more.