Cyber Security Summit 2017 wraps up in Beijing

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‍The two-day China Cyber Security Summit 2017 has wrapped up in Beijing. The participants discussed how to respond to cyber security threats and establish effective mechanisms to tackle emergencies.

More than 5,000 representatives from over 500 companies attended the summit, including Kevin D. Mitnick, the world’s most famous hacker, Vladimir Dashchenko, cyber security expert with the Kaspersky lab and Ellen Richey, vice president of Visa.

The theme of the summit was "Establishing New Order and Connecting New Opportunities".

Some top industry insiders spoke at the event.

Ren Yuxin, chief operating officer of Tencent, a major Internet company in China, noted that cyber attacks have become globalized and normalized, and a bigger threat to the digital economy.

Ren Yuxin, chief operating officer of Tencent, spoke at the summit. /CGTN Photo

"Cyber security has become the nervous system of the digital economy. Last year, 1,800 incidents of data leakage happened in China with 1.4 billion records. And Chinese web users' economic losses caused by spam messages, data leakage and fraud messages reached nearly 91.5 billion yuan (about 13.7 billion US dollars)," said Ren.

In the digital economy era, instead of hardware, digital assets, clients’ privacy, and core client data have become major targets of cyber attacks.

China implemented its first Cyber Security Law in June. Gao Lin, deputy director of Cyber Security Coordination Bureau at China’s Cyberspace Administration, urged all parties to follow the rules, while addressing the event.

"Protecting cyber security is an important responsibility of the entire society. Important industries, Internet operating companies, experts, and web users should all work to facilitate the implementation of the law, ” said Gao.

But one industry insider said smooth implementation still takes some time.

Ding Ke, vice president of Tencent, said smooth implementation of cyber security law will still take some time. /CGTN Photo

"As the new law is now still in its initial period of implementation, it sometimes doesn’t work with some other related laws and regulations, and it confuses us sometimes. So, we hope the government will publish some forward-looking policies to solve problems fundamentally," said Ding Ke, vice president of Tencent.

The organizers also invited top global industry insiders to discuss cyber security in the finance sector, big data and cloud, and artificial intelligence.

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