National Cybersecurity Industrial Park to be Built in Beijing

On December 12, the Ministry of Industry and Information Technology (MIIT) and the Beijing municipal government announced a joint initiative to build a world-class National Cybersecurity Industrial Park in Beijing at the first China Cybersecurity Industry Summit. Beijing is the home to half of the current major cybersecurity players in China, and the move will further enhance Beijing's technology capability and boost China's cybersecurity industry. 
According to a Xinhua report, the industrial park aims to build a cybersecurity industry of over a 100 billion yuan ($15 billion), and is expected to contribute over 330 billion yuan ($50 billion) to China's GDP growth and create at least 3 cybersecurity champions with annual revenues exceeding 10 billion yuan ($15 million) by 2020. The initiative will build five key cybersecurity bases centering around the industrial park by 2035, and those bases include a national security strategy support base, an international leading cybersecurity R&D base, a leading cybersecurity high-end industry cluster base, a cybersecurity leading talent training base and a cybersecurity industry institutional innovation base. 
MIIT and the Beijing municipal government have established a joint working group to carry out the initiative, and created a special fund and also favorable fiscal policies to support the construction of the new industrial park. The joint working group will also focus on guiding leading firms to build a mass entrepreneurship and innovation platform, establishing national and ministry/provincial level research labs, building cybersecurity training base, and perfecting IPR protection on cybersecurity.