This Day, That Year

Item from Aug 11, 1998, in China Daily: The China Security Regulatory Commission established a special task force to solve possible year 2000 computer problems for exchanges and brokerages.

With the millennium bug threatening computer systems worldwide, the commission hopes to speed up efforts to solve the problem in the securities and futures industry.

With the growing popularity of the internet, cyber attacks and data breaches are becoming more frequent, invasive and devastating.

The latest one, in May, was the ransomware virus WannaCry affecting more than 300,000 computers in 150 countries and regions. It encrypted data on the computers, demanding payments of up to $600 to restore access.

The National Computer Network Emergency Response Technical Team/ Coordination Center of China had found 2.42 million IPs in the country were attacked and the number of infected IPs reached 35,000 within four days.

On June 27, an emergency response plan was released for internet security to improve handling of cybersecurity incidents and to prevent and reduce damage.

In the same month, the country’s first Cyber Security Law came into effect to secure cyberspace and protect citizens against data theft.

In March, the country issued its first strategic report on cyber issues — The International Strategy of Cooperation on Cyberspace — aiming for jointly building a community of a shared future in cyberspace.

It said enhanced defense capability in cyberspace is an important part of China’s endeavors to modernize its national defense. It also said China, as a victim of hacking, opposes all such activities and regards them as illegal.