SHANGHAI, May 4 (Reuters) - Meng Youci, deputy chairman
of China's securities association, said the country needed to
pay close attention to data security and price competition
issues in the fast-growing fund custodian outsourcing business,
the association said on Thursday.
The warning comes as Beijing sharpens its focus on data
usage and security amid rising geopolitical tensions and
concerns about privacy.
"The intensification of price competition has affected the
orderly development of the (fund) custody industry," the
Securities Association of China said in a statement published on
its website.
"The industry should take measures to curb the behaviors,"
it said.
(Reporting by Shanghai Newsroom
Editing by Mark Potter)
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