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May 25, 2018

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Prospects in cyber security

By Song Yingge | 00:01 UTC+8 May 25, 2018 | Print Edition

GERMAN safety standards firm TUV Rheinland is quintupling its cyber security management employees in China to meet the rapid growth in the Chinese digital economy, it told Shanghai Daily yesterday.

The company now has 10 employees in the role in China as it just started a year ago, but “by the same time next year the figure will be 50, which is the same as we have in Germany,” said Urmez Daver, the company’s global head for industrial security business.

Cyber security is a business developing in tandem with the growth of the Chinese digital economy whose market for equipment such as sensors is set to hit 541.2 billion yuan (US$84.8 bilion) by 2019, up from 331.5 billion yuan in 2016, according to a report by Beijing-based Zhiyan Consulting Group.

“That has driven us to speed up efforts here,” Daver said.

“We need tools to help ensure we are not monitored by others,” he added.

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