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Tuesday, December 12, 2017, 18:38
Report: China's cybersecurity market worth nearly US$7b
By Xinhua
Tuesday, December 12, 2017, 18:38 By Xinhua

This Dec 4, 2017 photo taken on shows a man taking pictures of internet security data displayed on a screen at the Qihoo booth during the 4th World Internet Conference in Wuzhen in China's eastern Zhejiang province. The China Academy of Information and Communications Technology predicted that the country’s internet security industry sector will grow 32.85 percent year on year in 2017. (PHOTO / AFP)

BEIJING – Revenue from China's internet security 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.

The China Academy of Information and Communications Technology (CAICT) predicted in a report that the sector will grow 32.85 percent year on year in 2017, faster than the 21.7-percent increase in 2016.

READ MORE: Cyber security law not a trade barrier, says China's internet regulator

"Innovation in cybersecurity technology was robust, and new products and services have sprung up," the CAICT said, pointing to substantial improvement in 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.

ALSO READ: China to introduce review commission on cyber security

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.

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