China Digital Trust Insights

Building trust to capitalise on opportunities in the digital age

Building digital trust is no longer a priority, but a necessity.

Companies are undergoing digital transformation at a rapid pace in an effort to modernise and improve the speed and efficiency of their operations. This is causing a rise in the cybersecurity and data privacy risks they face thus making it more challenging to build digital trust. Mainland Chinese firms are no exception.

PwC’s 2019 Digital Trust Insights China Report assesses what Mainland Chinese businesses are doing to build digital trust and the role of their cyber teams in accomplishing this. It also offers recommendations on enhancing competitiveness by pursuing business-driven cybersecurity.

Learn about the latest insights from the key findings below.

Key findings from 2019 China report: Cybersecurity teams evolve to proactively identify and manage risks

Major risks arising from digital transformation

  • Data governance or privacy (China: 28%; Global: 11%).
  • Innovation risk (China: 19%; Global: 8%).
  • Cybersecurity (China: 18%; Global: 29%).

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Chinese cybersecurity teams are evolving to meet the needs of the business

  • Working more closely with the business to ensure alignment of cybersecurity strategy to their business imperatives (China: 26%; Global: 18%).
  • Using automation and emerging technologies to improve capabilities (China: 15%; Global: 11%).
  • Strengthening third-party risk management (China: 8%; Global: 13%).

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Maturity of cybersecurity activities

  • Cybersecurity teams in China are the most mature in the “Respond” and “Protect” functions of the US National Institute for Standards and Technology (NIST) Cybersecurity Framework.
  • They are the least mature in the “Identify” function.
  • Within the “Identify” function, companies are less mature in identifying a governance programme or cybersecurity policies that meet external legal and regulatory requirements.

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Six recommendations

China Digital Trust

Follow a risk-based approach and standard framework to strengthen their ‘Identify’ function

China Digital Trust

Ensure the alignment of cybersecurity strategy with business imperatives

China Digital Trust

Use automation and emerging technologies to improve cybersecurity capabilities

China Digital Trust

Set up a governance programme to comply with external regulatory requirements

China Digital Trust

Tackle cybersecurity as a business issue rather than an IT issue

China Digital Trust

Respond and improve in an agile way

Contact us

Kenneth Wong

Partner, PwC Hong Kong

Tel: +[852] 2289 2719

Ramesh Moosa

Partner, PwC China

Tel: +[86] (21) 2323 8688

Samuel Sinn

Partner, PwC China

Tel: +[86] (21) 2323 2296

Lisa Li

Partner, PwC China

Tel: +[86] (10) 6533 2312

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