Why China's new cybersecurity law is a threat to international businesses and innovation – IoT Business News (press release) (blog)

An article on China and cybersecurity, by George Haour*, Professor at the IMD business school.

China has the world's largest market for digital shopping, mobile payments, and Internet-enabled financial services. Close to 400 million people in China do most of their payments using their smartphones. China's overall business in information technology is a market of well above USD $300 billion, and it is estimated that more than 700 million Chinese have access to Internet. So any law impacting the online space – cybersecurity included – will make ripples in the way China does business.

That's why its new cybersecurity law — due to take effect in June of next year — is particularly alarming. It is part of an ongoing government program to reinforce China's cybersecurity, and arguably targets non-Chinese hackers. But it comes amidst continuous tensions between the U.S. and China, not just in terms of cybersecurity (each

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