US working with Japan, Europe on Chinese cyber security rules: US official

WASHINGTON  - The Obama administration is working to break down barriers to trade in technology and banking in China in partnership with Japan and the European Union, US Deputy Trade Representative Robert Holleyman said on Wednesday. Holleyman, who visited Beijing last week, said new banking rules would allow Chinese officials to keep the keys to secure systems and would largely shut out US technology and ATM providers from the Chinese market. "We are working to try to break down those barriers, and we have also secured support from our allies and trade partners in Japan and the EU," Holleyman told the National Lieutenant Governors Association. "This is not just a US-led initiative, it's an important global initiative," he said. - Reuters