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US to continue to raise cyber theft issues with China

Treasury Secretary Jack Lew raised concerns on cyber security during his meeting with Chinese President Xi Jinping in China.

By CBR Staff Writer

The USA will continue to raise cyber security issues with China, specifically theft of intellectual property and trade secrets, the country’s Treasury Secretary Jack Lew says.

Lew had already raised concerns on cyber security during his meeting with Chinese President Xi Jinping in China which he said it was productive.

"It is fundamentally a different set of issues and is something that is going to remain high on our agenda of issues to talk to with them about," Lew was quoted by Reuters.

Computer hacking has been a controversial issue between the two countries, with the US intelligence leaders alleging that cyber-attacks and cyber espionage had succeeded terrorism as the top security threat facing the US.

China on the other hand accused US of double standards in cyber security following Edward Snowden revelations, who escaped from from Hong Kong to Russia.

Snowden claimed that the National Security Agency (NSA) hacked three Chinese telecom firms to spy on SMS data from the Chinese carriers.

US firms have reportedly been facing obstacles to invest in several Chinese industries, while China claims that US bans on Chinese investments on unfair national security grounds.

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"They fundamentally have to move from a place where they have a very rigid, structured support for all the industries and go to more market-determined interest rates, market-determined investment policies, opening their market more to international investment," Lew said.

"The fact that there are other issues that do come up between us can’t become an issue as we talk about the core economic issues which are frankly things China needs to do in order to grow its economy."

Lew is also anticipating the two sides will address cyber issues of the kind referred during the US-China Strategic and Economic Dialogue between July 8 and July 12, 2013, in Washington.

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