Rumored death of new bank tech rules greatly exaggerated, trade groups say

Relief last month at word that China would delay implementing guidelines to encourage banks on the mainland to buy key tech — including mainframes and servers — from local companies now appears premature, The New York Times reported, citing a letter from the American Chamber of Commerce and other trade organizations which claims Chinese banks are now doing just that. With last month’s meeting between US Treasury Secretary Jack Lew and top Chinese officials having proved ineffective, the groups are now urging Chinese leaders to officially suspend implementation in a written public notice.