A newly enacted national security law announced by Beijing this week has unsettled multinational technology firms with calls for a “national security review” of the industry and foreign investment, The New York Times reported. The new law also calls for tech that supports key sectors to be “secure and controllable,” a phrase industry groups and multinationals say could be used to force firms to allow third-party access to systems, provide encryption keys or even hand over their products’ source code. The new law could effectively undo an earlier victory for foreign tech companies in which Beijing withdrew a law that restricted which products they could sell to mainland banks.
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