Trade group wants U.S.-China action on cybersecurity threats

US companies want the US and Chinese governments to work together to address the growing problem of cyberattacks that threaten to undermine trade between the world's two largest economies.

"We would simply say it's time for the governments to work on it," John Frisbie, president of the US-China Business Council, told reporters at a briefing on the trade group's priorities for 2013. "We do know that companies are constant targets of efforts to get into their systems globally." The US-China Business Council represents about 230 US companies with operations in China, ranging from manufacturers such as Boeing and Caterpillar to financial services giants such as Citigroup and JP Morgan Chase.