According to Bloomberg, the Chinese authorities ordered Chinese bank to abandon the services rendered by International Business Machines Corp.(IBM). The thing is that China suspects IBM of spying in favor of the USA.
The People's Bank of China, The Chinese Ministry of Finance and other governmental institutions are already dealing with the security issue.
The scandal between the USA and China started last week when 5 Chinese military men were accused of cyberspying. This resulted in checking all the local and foreign IT companies for security issues, Market Leader reports.
It should be noted that The Financial Times previously wrote the Chinese authorities ordered all public departments and institutions to suspend relations with US consulting companies. Still, China's Ministry of Foreign Affairs didn't comment on the matter.
China reminds the international community that this is not the first time when the USA arrange a cyberassault on China and urged the US authorities to investigate into the matter as soon as possible.
Today, on May 29th, the Chinese Yuan (the Renminbi) keeps on losing value against the US Dollar. USDCNY is trading within the scope of an upswing represented by wave 5/А of wave level Dail, Masterforex-V Academy reports. The closest major level of resistance is located at 6.2667. The closest level of support is 6,2190, a break below which will trigger a bigger-scale bearish reaction aimed at strengthening the Renminbi.
