A coalition of 46 business groups from the United States, Europe and Asia has appealed to China to change proposed cybersecurity rules they warn will harm trade and isolate the country. The letter represents the biggest such joint action since at least 2010, when business groups banded together to express concern over China’s controls on rare earths exports. Restrictions on use of security technology in an earlier Chinese anti-terrorism law and rules for banks prompted a similar outcry from business groups that said they would prevent most use of foreign products. The groups appealed to Li to revise the proposed rules to follow international standards. Business groups have complained over the past five years that Beijing is reducing market access for foreign companies as the government of President Xi Jinping tries to build up Chinese competitors.

Source: Indian Express August 12, 2016 03:45 UTC