Tech Companies Worried Over China's New Rules For Selling To Banks

Posted by Soulskill on Friday January 30, 2015 @04:05AM from the worried-all-the-way-to-the-bank dept.

An anonymous reader writes: China is putting into place a new set of regulations for how banks interact with technology, and it has many companies worried. While the rules might enhance security for the Chinese government, they devastate it for everyone else. For example, not only will China require that companies turn over source code for any software sold to banks, the companies building the software (and hardware) must also build back doors into their systems. The bad news for us is that most companies can't afford to simply refuse the rules and write China off. Tech industry spending is estimated to reach $465 billion in 2015, and it's projected for a huge amount of growth.

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I don't get it by oodaloop · 2015-01-30 04:16 · Score: 4, Interesting

They want the source code and backdoors written in? Why not write your own backdoors?

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Tic-Tac-Toe, Global Thermonuclear War, and relationships all have the same winning move.
One-Way street by Virtucon · 2015-01-30 04:32 · Score: 4, Interesting

doing business with the PRC is a One-Way street, they'll absorb your technology, your techniques and your skills and will saturate your markets to kill off your own industries. We're in a war folks, it's time people woke up to that fact and stopped treating the Chinese Government as friendly.

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Harrison's Postulate - "For every action there is an equal and opposite criticism"