China intervention to impose strict mandatory Cybersecurity Reviews to companies

China this week has taken some large steps in developing their Cyber-Security industry which is estimated to be worth $38bn by 2023 according to Reuters.

This follows the recent regulatory probe of the large ride hailing company 'Didi Global'.

China actually blocked new users from registering as the Chinese regulators carried out their CySec review. The Cyberspace Administration of China then ordered Didi's app removed from domestic mobile app stores.

2 more companies (Full Truck Alliance and Kanzhun) to suspend user registrations and submit to security reviews citing a "National Data Risk".

Analysts believe this will have a knock on effect for governments around the world to start imposing stricter measures for companies in managing their security to a higher degree.

Some information for this report came from Reuters, CNBC and The New York Times

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