By the end of this year, revenue in China’s cybersecurity industry is likely to reach 63.1 billion yuan ($ 8.9 billion), an increase of 23% year-on-year, according to a report by the Chinese Academy of Information and Telecommunications Technology.

Data is an indicator of an upward trend. In 2017, the sector grew by 27.6% to close to 44 billion yuan.

According to the latest report, requirements for network security are increasing due to the development of artificial intelligence, industrial Internet and 5G technology.

Nearly 3,000 cybersecurity companies operate in China today, 8% more than in 2017. 1/3 of them are located in Beijing, 13% in Guangdong and 10% in Shanghai.