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A Chinese yuan banknote depicting the late Chinese President Mao Zedong and a computer keyboard is reflected in an image of the Chinese flag in this illustrative photo taken on November 1, 2019. REUTERS / Florence Lo / Illustration / File Photo
SHANGHAI, July 12 (Reuters) – China’s Ministry of Industry and Information Technology on Monday released a draft three-year action plan to develop the country’s cybersecurity industry, saying the sector could be worth more than 250 billion yuan (38.6 billion) by 2023.
The project comes as Chinese authorities step up efforts to draft regulations to better govern the storage, transfer of data and privacy of personal data.
Over the weekend, the Cyberspace Administration of China proposed draft rules calling on all data-rich tech companies with more than one million users to take security exams before registering overseas. .
The regulation came following a regulatory investigation by Chinese ridesharing giant Didi Chuxing for allegedly violating data privacy laws. Read more
Reporting by Yilei Sun and Josh Horwitz; Editing by Muralikumar Anantharaman and Kenneth Maxwell
Our Standards: The Thomson Reuters Trust Principles.
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