China's foreign ministry on Sept. 16 said it noted an open letter from industry group Connect Europe and 17 European telco chiefs warning that the European Commission's proposed Cybersecurity Act revisions could force carriers to spend about €40bn on equipment replacement and, by some estimates, cost the EU more than €360bn over the next five years. Beijing said such protectionist measures would undermine digital investment, damage market openness and investor confidence, and urged the EU to avo

China's foreign ministry on Sept. 16 said it noted an open letter from industry group Connect Europe and 17 European telco chiefs warning that the European Commission's proposed Cybersecurity Act revisions could force carriers to spend about €40bn on equipment replacement and, by some estimates, cost the EU more than €360bn over the next five years. Beijing said such protectionist measures would undermine digital investment, damage market openness and investor confidence, and urged the EU to avoid discriminatory restrictions.