The policy has been dubbed "3-5-2" because the replacement of the technology will happen at a pace of 30% in 2020, 50% in 2021, and 20% in 2022, the newspaper said, citing a note from brokerage firm China Securities. Analysts there estimate that 20 million to 30 million pieces of foreign equipment need to be replaced in China.
China Securities said that the order had come from the Chinese Communist party's Central Office earlier this year, the FT said. While the directive is not public, two cybersecurity firms told the FT that their government clients described the policy to them. China Securities did not respond to a request for comment when contacted by CNBC. Meanwhile, China's Ministry of Industry and Information Technology was not immediately available for comment when contacted by CNBC by fax. Microsoft, HP and Dell did not immediately respond to CNBC's request for comment outside of business hours.
Neil Campling, head of technology, media and telecommunications research at Mirabaud Securities, said the move by the Chinese government aims to protect against an escalation of tensions with the U.S. "That is something that China is looking at to make sure government operations are not affected by escalating tensions with the U.S.," Campling told CNBC.Beijing's move comes against the backdrop of the ongoing U.S.-China trade war in which technology has been front and center. China's technology firms have been the target of U.S. pressure.
make sense , as US blackmailing Chinese company by witholding supply sufdenly that are critical for production suddenly after several yrs buying consitenly with US suppliers. they basically pushing Chinese co to bankruptcy with their blacklisting. China should stop relying US
Sounds like a sham..
I wish my country do the same thing USA did spy on other countries and every country should ban their equipments for a security reasons.
trade deal talks going well?
dont u worry abt it. without windows and other foreign wares soft and hard alike, china would have to retreat to the late qing dynasty.
..that's not a 'I love you'
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: trtworld - 🏆 101. / 63 Read more »
Source: Reuters - 🏆 2. / 97 Read more »