Security News > 2023 > January > China aims to grow local infosec industry by 30 percent a year, to $22 billion by 2025

China's government has declared the nation's information security industry needs to grow - fast.

A document with the catchy title of "Guiding Opinions of Sixteen Departments Including the Ministry of Industry and Information Technology on Promoting the Development of the Data Security Industry" was issued last week, setting out an ambitious program to scale the industry at 30 percent compound annual growth rate, so it reaches ¥15 billion of annual revenue by 2025.

To get there, China will build five security labs, between three and five national data security industrial parks, ten advanced demonstration areas for innovative applications, and "Cultivate a number of leading and backbone enterprises with international competitiveness, individual champion enterprises and specialized, special and new little giant' enterprises."

The plan lays out a goal of a prosperous and mature infosec industry by 2035, by which time "The industrial policy system has been further improved, the key core technologies of data security, the development level of key products, and professional service capabilities have ranked among the world's advanced ranks, the awareness and application capabilities of data security applications in various fields have been significantly improved, and a number of leading companies with international competitiveness have emerged."

Analyst firm Gartner last year predicted global spending on security and risk management would grow 11.3 percent to top $183 billion in 2023.

China represents around 18 percent of global economic activity and population, and 18 percent of $183 billion is $33 billion - so if China only hits its $22 billion goal, its infosec industry market share will not match its economic and population heft.

News URL

https://go.theregister.com/feed/www.theregister.com/2023/01/16/china_infsec_industry_growth_plan/