Raisecom Photo: CFP

 
Beijing Communication Administration summoned Raisecom- a Beijing-based firm dedicated to Optical fiber communication devices for cyber security issues, the administration said on Thursday.
 
After conducting an investigation, Beijing Communication Administration ordered the company to fully realize the importance for ensuring cyber security with three rectification requirements to implement, the regulator noted in a statement on its Wechat account.
 
The administration asked the company to strictly implement corresponding regulations and immediately rectify problems while effectively fulfilling the main responsibility. It also required Raisecom to conduct a comprehensive self-examination, establish a long-term mechanism and strengthen the study for relevant regulations, while establishing a smooth channel for receiving vulnerability information and strictly regulating relevant behaviors.
 
Raisecom was established in 1999 and listed on the Shanghai Exchange Stock in April, 2017, according to its official website. The company’s stock closed at 8.66 yuan per share on Thursday, an increase of 1.64 percent.
 
China’s cyber security industry has been expanding rapidly with 4,743 related enterprises being registered as of April 4, 2023, data from a recent industrial report from qianzhan.com showed on Thursday. The industrial scale in 2022 was estimated to reach $13.76 billion, with a growth rate of 12.8 percent.
 
Responsible authority has been stepping up efforts to safeguard the cyber security amid the nation’s rapid technology progress.
 
The State Administration for Market Regulation recently issued technology requirements and testing methods for classifying and grading various cyber security issues such as anti-spam and network security audit, the top market regulator said earlier in June.