China increases online security spending with "active defense" strategy
China's cybersecurity industry will hit revenue of 250 billion yuan (US$40 billion) by 2023, with increased spending on telecoms and other key sectors, says the Ministry of Industry and Information Technology.
Shanghai's telecom, online finance and Internet service industries have promised to enhance security and increase spending for the city's digital transformation and the upcoming China International Import Expo, they said on Tuesday.
The security spending will pour into sectors like telecom (at least 10 percent) and booming industries covering intelligent vehicles and industrial Internet, according to the Ministry.
In the first half, China's online security service market revenue more than doubled, thanks to booming cloud, remote control and various other new services, according to researcher IDC.
Shanghai's 50 top firms have tested cybersecurity through an "attack-and-defense" campaign to find network loopholes and better prepare for the CIIE.
The annual event aims to boost national cybersecurity and promoting a healthy online environment
Organizations should take "active defense"methods and increase spending on Internet security, instead of passive defense, according to IDC.