China and Germany have recently agreed to work together to stop economic cyber spying between the two nations.
This decision comes from the German government's growing concern for small and medium sized businesses being ill-equipped to fend off cyber-attacks.
In the past, China has consistently denied any involvement in cyber-attacks, but now the nation wants to work with Germany to create more security and openness within the sector.
Chancellor Angela Merkel reportedly said she’d like to seal this deal very quickly after meeting with Chinese Premier Li Keqiang in Beijing.
The United States and China also recently agreed on a comprehensive anti-hacking agreement working to stop the theft of corporate trade secrets. This decision came just after the US threatened economic sanctions against China after an array of cyber-attacks against American businesses and government agencies.
“China is very active in economic espionage, and Germany has been an attractive target because of the many technological innovations are happening at Mittelstand companies that traditionally have weak IT-Security systems”, said Sandro Gaycken, a cyber security expert at the Berlin European School of Management and Technology.
Read the article on SC Magazine