China Drafts Plan to Upgrade Cybersecurity Industry

China’s top information technology regulator has issued a draft plan to develop the country’s cybersecurity industry for the next three years.

This is part of Beijing’s recent efforts to better govern internet and data management, as the country ventures into new technologies such as 5G, cloud computing and artificial intelligence.

In a draft plan released for public consultation on Monday, the Ministry of Industry and Information Technology called for more secure networks and upgrading of infrastructure in critical sectors, including energy, finance, transport, health and education.

The private sector has become a target for China’s recent cybersecurity scrutiny. In the draft plan, the industry watchdog will require companies to improve their awareness of cybersecurity issues, as well as the ability to safeguard their network security.
The MIIT, also the country’s automotive-industry regulator, will also require enhanced cybersecurity in the growing business of intelligent mobility, as more car makers use and develop technologies, such as over-the-air updates and automatic driving.

The MIIT estimates the cybersecurity industry could grow at least 15% annually to more than 250 billion yuan ($38.59 billion) in value by 2023.

Source: World Trade Times