China’s Cybersecurity Industry Expected to Grow 23% to $8.9 Billion – Caixin Global

There are nearly 3,000 cybersecurity companies, an increase of 8% from 2017. One-third of the companies are based in Beijing, 13% in Guangdong and 10% in Shanghai, according to the report.


The continuous optimization of ’s cybersecurity policy has provided a good institutional environment for the industry, said Wang Zhiqin, deputy director the CAICT.


The development of 5G technologies, artificial intelligence and industrial internet have increasingly higher requirements for network security, expanding the demand for cybersecurity, according to the 2019 white paper on released by the China Academy of Information and Communications Technology (CAICT).


China’s cybersecurity industry is expected to reach 63.1 billion yuan ($8.9 billion) of revenue in 2019, up 23% from 2018, according to a report released Wednesday by a research institute under the country’s Ministry of Industry and Information Technology.


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