China to purge foreign technology from banks, military, state-owned enterprises, key government agencies by 2020 via ForexLive

An item from Bloomberg which says “China is aiming to purge most foreign technology from banks, the military, state-owned enterprises and key government agencies by 2020, stepping up efforts to shift to Chinese suppliers, according to people familiar with the effort”

• The plan for changes in four segments of the economy is driven by national security concerns
• Foreign suppliers may be able to avoid replacement if they share their core technology or give China's security inspectors access to their products, the people said.

More at the ungated article

posted via ForexLive