Cybersecurity industrial park to be built in Beijing
December 19, 2017 Category China News Round-up, Weekly
Beijing aims to build a world-class national cybersecurity industrial park, which will help cultivate a CNY100 billion cybersecurity industry in the Chinese capital by 2020 and help the country better implement the big data strategy. The industrial park will be jointly built by the Beijing municipal government and the Ministry of Industry and Information Technology (MIIT). Officials expect it to help contribute more than CNY330 billion to GDP growth by 2020.
Chen Zhaoxiong, Vice Minister of Industry and Information Technology, said the booming big data industry is injecting new impetus into China’s economic growth and spurring demand for safer information infrastructure. “More efforts are needed to promote innovation, as well as the research and development of cybersecurity solutions,” Chen said. Currently, half of China’s major cybersecurity companies are registered in Beijing and six of them generate over CNY1 billion in annual revenue. Officials hope that by 2020 the new cybersecurity park will host at least three companies whose annual revenue can exceed CNY10 billion. The Beijing municipal government and MIIT will offer financial support and favorable fiscal policies to facilitate the construction of the new industrial park. In May, a CNY10 billion fund was launched by CSC Financial Co and Beijing Daily Group to invest in promising companies in the information security industry.
According to Liu Duo, Director of the China Academy of Information and Communications Technology, MIIT has selected 82 pilot cybersecurity projects in the past three years, whose experience can be emulated nationwide to prevent internet attacks and other online crimes. There are 10 listed companies in China that purely focus on cybersecurity. They posted a combined annual revenue of CNY14.7 billion in 2016, up 34.9% year-on-year, the China Daily reports.
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