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Microsoft joining China's cybersecurity council paves the way for better relations between the two largest internet markets by BI Intelligence on Aug 29, 2016, 10:34 AM  This story was delivered to BI Intelligence Apps and Platforms Briefing subscribers. To learn more and subscribe, please click here.
China is allowing foreign technology companies to join a key government committee in an effort to ease foreign concerns over its strict cybersecurity policies, according to The Wall Street Journal. The inclusion of Western tech companies on the cybersecurity committee paves the way for better relations between the two largest internet markets. China is hoping that the committee will improve its international standing as a technological hub, giving it more sway in future cyber policy making. The agency, called the Technical Committee 260 (TC260), is tasked with defining what technologies are “secure and controllable.” This includes deciding whether China will adopt standards that challenge from international standards. Fostering better relations between China and the Western companies could facilitate substantial growth. The country is the largest smartphone market in the world, which benefits manufacturers, software and app developers, and data center storage companies alike. Easing of tensions would be especially beneficial for international app developers looking to break into the massive market. But it could also provide an avenue for Chinese businesses to begin operating in the US.Businesses like Huawei and Xiaomi have been essentially stonewalled by the US due to patent law infringements, relegating their sales to online stores. Opening up relations between the two markets could facilitate the entrance of these vendors to the market. And although the decision by the Chinese government shows signs of it responding to foreign businesses’ concerns, its international policies remain complicated: - The Chinese government has become increasingly protective of its people’s data, a byproduct of Edward Snowden's data-spying revelations in 2013. Since then, it has implemented a number of policies aimed at increasing the government’s control over data storage and encryption systems, including those owned by international businesses.
- China might be using the threat of data security to protect and bolster domestic companies. Eight US companies have been labeled as “guardian warriors” by China’s state media: Apple, Google, Cisco, Intel, McAfee, IBM, Qualcomm, and Microsoft. According to the regulatory authority (cited by WSJ), these companies are too deeply entrenched in the country’s core industries including energy, communications, education, and military. By flexing its control over foreign companies, the government is facilitating trade for domestic companies.
BI Intelligence, Business Insider's premium research service, has compiled a detailed report on cybersecurity that details the current landscape for companies in critical infrastructure sectors, as well as how companies can protect their control systems from hackers. Here are some of the key points from the report: - Companies that operate critical infrastructure sites reported 295 cyber incidents in 2015, up from 245 in 2014.
- Hackers are targeting the industrial control systems that operate critical infrastructure because of the enormous damage they can cause by crippling such infrastructure.
- Industrial control systems typically weren’t designed to be connected to the internet, so they weren’t built with cybersecurity capabilities to ward off hackers.
- The hack that caused a blackout in the Ukraine could serve as a blueprint for other hackers that want to target critical infrastructure, helping them succeed in future attackers.
- The Ukraine hack highlighted the importance of training employees about cybersecurity and placing additional access controls on industrial control systems beyond firewalls.
In full, the report: - Explains the challenges that companies face in securing industrial control systems that they are connecting to the internet.
- Breaks down what made the hack against the Ukraine’s power grid so successful.
- Highlights how this attack will impact other companies operating critical infrastructure.
- Details the best methods for securing industrial control systems against hackers.
Interested in getting the full report? Here are two ways to access it: - Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >> START A MEMBERSHIP
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