HackerOne COO Wang Ning (left) and Bai Jian, director of Butian Vulnerability Response Platform, speak to media in Shenzhen, Guangdong province, on March 30, 2017. (Photo provided to chinadaily.com.cn)
Unlike HackerOne, Butian remains as a public-interest platform, according to Bai Jian, director of the platform.
"Chinese enterprises' maturity on cyber security issues and the related laws and regulations are still weak. At present, if the platform itself makes money, it may lose the trust of some corporations of low maturity. Only by putting the commercial interest aside, we can go further," Bai said.
In 2014, Qi Xiangdong said, compared with the US, the awareness of the importance of internet security at a corporate level was underdeveloped in China.
"Now their awareness has improved significantly, especially after President Xi Jinping spoke on establishing China's national big data center last year," Qi said.
"However, there is still a large gap between China and US or other European countries. While the input of cyber security accounts for around 15 percent of the total IT investments in US, it is only one to three percent in China," Qi said.
He believes it will take five to 10 years for China to catch up with developed countries. "The potential of China's cyber security industry is huge. I expect its scale will increase from 20 billion yuan to 450 billion to 500 billion yuan in the future," Qi said.
He emphasized talents like "white hats" will play crucial roles in the development of the industry.
