Chinese president Xi Jinping and U.S. President Barack Obama agree not to engage in cyber espionage for economic gain. China has vehemently denied any such hacking activity. Security experts skeptical that any official deal can ultimately be struck. The Information Technology Industry Council (ITIC) lauded the agreement between the two presidents. It illustrates a spirit of cooperation on a sensitive issue, which is a positive signal to technology companies, says ITI CEO Dean Garfield. The US has maintained that it does not conduct cyberspying for economic gains for US companies.”]