New Chinese regulations mean that tech firms hoping to sign up the country's banks as customers will have to turn over their code, agree to audits and build back doors into their hardware and software. The rules, set out in a document, were established late last year as part of a wider cybersecurity initiative from the Chinese government. In a letter to the Communist Party committee on cybersecurity American business groups, including the US Chamber of Commerce, called the regulations intrusive and raised the spectre of protectionism.

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