13FYP for IT in Finance Highlights Cybersecurity

On June 27, PBOC issued the 13th Five-Year Plan on Information Technology in Financial Industry. The plan is drafted in accordance with the overall13th FYP and Outline of National Informatization Development Strategy among others. It follows several strategic plans including the Cybersecurity Law, National Cybersecurity Strategy, and the  Opinions of the State Council on Promoting the Innovation and Development of Cloud Computing. 

The plan highlighted the importance of strengthening cybersecurity as one of the major tasks for the next 5 years (2016-2020) as well as improving financial information infrastructure building, adopting new technology, developing financial standards strategies and others. It calls on the financial industry to fully implement national cybersecurity related laws, regulations and standards.