Last month, we had a brief trip in China where we started many lines of fruitful discussion with different prominent parties on the Chinese information technology market. Covered topics included cybersecurity, IT start-ups’ struggle with finding overseas markets, as well as significance of GDPR in China. The trip included cities of Shanghai, Beijing and Hangzhou (the latter being home to headquarters of Alibaba Group Holding Ltd.), and meetings with many forward-thinking Chinese firms specializing in different fields of IT security.
Our meeting with Changfeng Information Technology Industry Alliance was of special significance. Changfeng Alliance has been present since 2005 and was founded by a group of software and information service enterprises, research institutes along with the support of both the state and municipal governments of Beijing. The software sales revenue of the Alliance’s members accounts for about 57% of the ICT industry in China. Main goal of the Alliance is to provide a platform in order to improve international business relations between China and the rest of the world in the ICT industry.
Our meeting took place in the technology hub of Beijing, in the software incubator of Zhongguancun Science Park, Haidian District. The discussion involved Changfeng Alliance, ACPM IT Consulting Ltd. and several member companies of Changfeng Alliance.
One of the key points of discussion was to find a solution for knowledge exchange between IT companies (both mature and start-up stage) located in the European Union and China. All parties involved in the discussion agreed that there is a lack of exchange in local knowledge and niche-market expertise between the two regions. They all set out to tackle this problem together with an enhanced international cooperation that focuses on building a bridging platform between the EU and China to help their IT companies find each other’s markets in easier ways.
Other important point of the meeting was discussing importance of the EU’s GDPR (General Data Protection Regulation) for companies in China. GDPR took effect in May 2018 and is applicable not only to companies located in the EU, but to any organization or company that handles or processes EU citizens’ data in any organized way. Chinese companies with global exposure can fall subjects to significant fines in the EU if they do not comply with the regulation aiming to protect the privacy of EU citizens. All parties involved agreed on the importance of sophisticated GDPR training programs in China in order to help local companies embrace global exposure on a higher level.
ACPM IT Consulting Ltd. is already present on the Asian market with a representative office in Kuala Lumpur, Malaysia. We believe that IT security is of special significance in the ASEAN region, as well as in Asia as a whole. Our discussions in Beijing will be followed by trainings and conferences related to GDPR and cybersecurity in Kuala Lumpur in September and October 2018, as well as a training program for GDPR in China later in 2018. Follow us on LinkedIn and Facebook to stay up to date on our upcoming events.