'China to demand secret source codes'

China will force companies which sell computer equipment to banks to hand over secret source code, undergo sensitive audits and set up research and development centres in the country, the New York Times reported on Thursday. Beijing wants 75 per cent of technology products used by China's financial institutions "secure and controllable" by 2019, the paper reported, citing an official document expected to be circulated to businesses in the next few months. In a letter to China's top cybersecurity policy group dated January 28, the American Chamber of Commerce in China and 17 other US business lobbies urged Beijing to postpone the implementation of the new policies.