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Fortifying Data Security to Safeguard China’s Digital Economy

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As ensuring data security is crucial to promoting the high-quality development of China’s digital economy, officials and experts stated that greater efforts should be made to combat the rise of cyberattacks that target critical information infrastructure.

The Cyberspace Administration of China’s deputy head of the cybersecurity coordination bureau, Guo Tao, emphasised the significance of maintaining cybersecurity in a difficult environment and said that increasing cybersecurity capacity, bolstering the security of critical information infrastructure, and creating a strong ecosystem for the integrated development of the education and technology sectors should be the main priorities.

Guo stated that it is essential to continue implementing pertinent cybersecurity requirements, laws, and regulations, to hone the implementation guidelines for related laws, and to further enhance the support system.

To support the digital transformation of businesses, Zhou Shaoqing, a cybersecurity official at the Ministry of Industry and Information Technology, said more efforts are required to improve the protection of the industrial internet, accelerate technological innovation, and make breakthroughs in cybersecurity technologies.

Zhou also emphasised the need to establish more cybersecurity businesses and top-tier talent in addition to improving associated rules that promote the sector’s growth.

The rapid development and use of next-generation information technologies have given rise to cybersecurity challenges, necessitating stricter requirements for data security. Data has proven to be a valuable strategic resource along all production links, making data security more crucial than ever. He called for increased efforts to address new data security issues.

In the intelligent era, a country can only better manage cybersecurity risks by enhancing data security protection capabilities, and the business will continuously innovate in cybersecurity technologies to handle the rise in cyberattacks.

According to a government directive, China intends to grow the size of its data security market to over 150 billion yuan (S$21.8 billion) by 2025, with a compound annual growth rate of more than 30%.

China’s digital security system is currently taking shape and evolving into a new tool for ensuring both national security and the growth of the digital economy.

Technical standards in crucial subfields will be regularly updated, while laws and policies that target new technologies and applications will be continuously improved. Key requirements, such as risk assessment on data classification and cross-border data transfer, will also be further refined.

At the 2023 Beijing Cyber Security Conference, it was emphasised that improving data security is crucial for China’s digital economy. Securing vital information infrastructure has become crucial to ensuring the high-quality growth of the digital economy in China as it continues its rapid digital transformation.

Increased cybersecurity measures, protection of industrial internet systems, and promotion of technological innovation in the cybersecurity field were stressed by officials and experts.

Implementing pertinent laws and regulations, as well as improving support systems and technical standards, are essential for achieving robust data security. Additionally crucial is the creation of a robust ecosystem that unifies the technology and education sectors.

China is strengthening national security, fostering innovation in the digital age, and laying a strong foundation for sustained digital economic growth by putting data security first.

Further, China’s digital economy is poised to play a significant role in its future growth and global influence. The nation acknowledged that strengthening data security is not just a matter of compliance or protection; it is an essential step toward building a thriving digital society that upholds privacy, fosters innovation, and safeguards national interests.

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