China’s Network Security Industry to Pass CNY46 Billion Milestone This Year

China’s Network Security Industry to Pass CNY46 Billion Milestone This Year

Dou Shicong

Date: Wed, 12/13/2017 - 10:13 / source:Yici
China’s Network Security Industry to Pass CNY46 Billion Milestone This Year
China’s Network Security Industry to Pass CNY46 Billion Milestone This Year

(Yicai Global) Dec. 13 -- In step with the innovation of network security technology and the emergence of new products and services, the market size of China’s network security industry is expected to reach CNY46 billion (USD7 billion), the China Academy of Information and Communications Technology reported.

The academy released its industry white paper at the first Network Security Industry Summit China’s industry and information technology ministry held yesterday, which indicates China’s network security products and services now essentially encompass all sectors, with the technological edge in key sectors gradually becoming apparent, state-run Xinhua News Agency reported yesterday.   

Emerging technologies, such as artificial intelligence (AI), are also driving the innovation of network security technologies. Leading internet enterprises like Qihoo 360 Technology Co. and Baidu Inc. [NASDAQ:BIDU] are upping their investments and pooling top talent from the internet security field.

The ministry is propelling innovation of core technologies in the network security industry, especially intensifying its research into industrial internet, AI, Big Data and other technologies, indicated Chen Zhaoxiong, its deputy minister. The agency will also  develop the market for application of network security products and services and optimize the industrial ecosystem.

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Keywords: Network Security, 360, Baidu, China Academy of Information and Communications Technology, Ministry of Industry and Information Technology