Overview
The China Banking Regulatory Commission (CBRC)
jointly with three other government departments promulgated the
CBRC Guidance Opinions on the Use of Secure and Controllable
Technology to Strengthen the Internet Security and Information
Construction of Banking Industry (YINJIANFA (2014) No. 39, the
CBRC Opinion) on 3 September 2014. The
Guidelines on Promoting the Use of Secure and Controllable
Technology in Banking Industry (2014-2015) (YINJIANBANFA
(2014) No. 317, the CBRC Guidelines) were later
issued on 26 December 2014, as the detailed implementing rules of
the CBRC Opinion. Targeting to improve the information security in
the banking sector and in a larger sense, the financial security of
China, the CBRC Opinion and the CBRC Guidelines (collectively, the
New Rules) require that banks, within a specific
timeframe, achieve a series of fixed targets in relation to
applying "secure and controllable" IT products. This may
have a significant impact on China's
