CHINA will establish a world-class national cybersecurity industrial park to cultivate a 100 billion yuan (US$15 billion) cybersecurity industry in Beijing by 2020.
The industrial park will be jointly built by the Ministry of Industry and Information Technology (MIIT) and the Beijing Municipal Government.
The park is expected to contribute 330 billion yuan to China’s gross domestic product growth and cultivate at least three enterprises with annual revenues exceeding 10 billion yuan by 2020.
Currently, half of China’s cybersecurity companies are registered in Beijing, and six of them have over one billion yuan in annual revenue.
In 2016, the scale of China’s cybersecurity industry saw an increase of 21.7 percent and it is expected to grow 32.85 percent this year, according to a report from the China Academy of Information and Communications Technology (CAICT).
Revenue from China’s cybersecurity industry will reach 45.71 billion yuan (US$6.91 billion) this year as a technological boom is pushing the emerging sector onto the fast track.
“Innovation in cybersecurity technology is robust, and new products and services have sprung up,” the CAICT said, pointing to substantial improvement in the competitiveness of domestic businesses.
Artificial intelligence (AI) and other new technologies are driving a revolution in cyberspace security. Tech firms, including Qihoo 360 and Baidu, have been driving big money into the area.
Chen Zhaoxiong, vice minister of Industry and Information Technology, said the ministry will promote innovation in core technology, especially in the research and development of industrial Internet, AI and big data.
(Xinhua)