Shanghai to double cybersecurity industry revenue by 2023
Shanghai to bolster its cybersecurity sector next year with revenue doubling to 25 billion yuan ($3.90 billion) from major enterprises and industrial parks and improved online fraud prevention methods , industry officials said.
Cybersecurity is fundamental to the Shanghai Personal Information Protection Law and Data Use Rules released recently. It’s also a key link to most people’s digital lives and Shanghai’s long-term strategy to establish a global digital hub, experts said.
Shanghai’s cybersecurity industry revenue will double from 2021 levels to reach 25 billion yuan in 2023, with two national internet security parks and more than 10 major enterprises.
It will establish a comprehensive ecosystem in Shanghai covering five sectors – research, security certification, incubation, talent, cooperation and collaboration – according to a plan released this week by the Shanghai Economics and Information Commission.
Major companies like China Unicom, SIPG and SAIC Group which cover maritime transport, telecommunications, air transport, steel, port, energy and utilities have contributed to the development of the plan. Their involvement demonstrates the city’s commitment to cybersecurity and data security across all sectors, said Zhang Ying, vice director of the commission.
A professionally connected Automotive Safety and Innovation Center addressing supply chain, internet connection and data security issues in the self-driving industry also debuted this week.
The growing incidence of digital fraud and telecommunications and cyber crimes are major challenges in China.
In Shanghai, about 63 percent of telecom fraud victims are young people born after 1990, resulting in huge economic losses for both students and college students, said Wang Tianguang, vice director of the Shanghai Communications Administration. Shanghai.
The local police office also deals with telecommunications fraud and cybercrimes by blocking suspicious links to websites, issuing warnings and opening a special hotline 96110.
They announced a cooperation with tech giant Baidu to prevent fraud and crime using artificial intelligence (AI) technologies. For example, 600 million Baidu Input users will be automatically notified when they encounter fraud issues.
Baidu designed the anti-fraud animated chat characters to warn users and they can be easily accepted by young people, especially students, said Cai Yuting, general manager of Baidu Input.