China to formulate rules and regulations on industrial information security

China will formulate rules and regulations on industrial information security as the country is speeding up the safe use and sharing of data to bolster industrial competitiveness, a top industrial official said on June 22.

Chen Zhaoxiong, vice-minister of the Ministry of Industry and Information Technology, said that the MIIT is going to set up a group of urgently-needed standards to promote the safe flow, interaction and sharing of industrial data.

“The ministry also will accelerate efforts to promote the building of related discipline or majors on industrial information security to nurture more professional talents in the field,” Chen said at the annual China Industrial Cyber Security Congress held on June 22.

According to an official report released on Saturday, the market size of China’s industrial information security industry will soar by 19.23 percent to 9.39 billion yuan ($1.37 billion) in 2019.

In 2018, the sector’s market scale hit 7.03 billion yuan, with a growth rate of 33.55 percent year-on-year, the report said.

At the congress, China Industrial Control Systems and Cyber Emergence Response Team, a subsidiary of the MIIT, signed a strategic cooperation with the Aluminum Corporation of China Ltd.

Under the partnership, both sides will leverage resources to boost industrial ability in safeguarding the information security of non-ferrous metals and will deepen cooperation in industrial internet application.