National Security: Infrastructure
The question
To ask the Chancellor of the Exchequer, whether her Department is aware of Chinese components in (a) banks, (b) payment terminals and (c) other economic infrastructure classified as critically important to national interests; and if she will conduct an audit of Chinese-made components in critical national infrastructure.
Answered by Emma Reynolds
We expect firms in the finance sector, including banks, payment terminal providers and financial market infrastructures (FMIs), to manage their procurement and supply chains in an appropriate manner. The finance sector’s regulators – Bank of England, Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) – also provide guidance to firms on managing supply chain risks.
We will continue to cooperate with China on trade and investment, although recognise that there will be some areas where we need to protect sensitive sectors of the economy.
Government will continue to use the full suite of our economic security tools, including the National Security and Investment Act, to protect against threats to our national security.
The National Technical Authorities provide advice to owners and operators of Critical National Infrastructure (CNI) in industry on best practice for CNI security and resilience.
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