China backs away from banning foreign tech companies from banking sector

April 17, 2015 6:31 AM

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China has suspended a policy that would have effectively pushed foreign technology companies out of the country's banking sector, according to a note sent by Chinese regulators to banks.

Dated Monday, the letter called for banks to "suspend implementation" of the rules, which have been at the centre of a brewing trade conflict between the United States and China. The rules, which were put into effect at the end of last year, called for companies that sell computer equipment to Chine...

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