- Other Apps
It is now clear that, businesses will need to develop new strategies to work around China’s new cybersecurity law in order to avoid increased costs and exposure of sensitive data.
In effect, foreign businesses are worried that they will have to share their source code or give up intellectual property to do business in China’s market.
I can observe that, this law will require the procurement of all network products, equipment, software, and services for “critical information infrastructure facilities”, including facilities in the medical/healthcare, energy, water, gas, and transportation industries, in addition to financial institutions, banking services, and social security facilities in China, to first pass a security assessment and receive government certifications. The new cybersecurity law is anticipated to take effect this June, 2017.
If your organization will be affected by these changes or is facing any type of procurement challenge, contact us (firstname.lastname@example.org ) to learn about our solutions on how we help clients tackle such business challenges by closely monitoring market conditions for improved supply chain strategies.