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Large Funds Put in Net Security
China National Bluestar (Group) Corp will invest 100 million yuan (US$12 million) over the next five years in the Internet network security industry.
The corp recently launched the China Bluestar Information Industry Group, which is comprised of the former China Blue Star Network Security Technology Co Ltd, Blue Star Network Technology Co Ltd and five former telecommunications companies that once belonged to the military.
The Bluestar Group was approved to be the largest shareholder of the five companies earlier this month. These companies boast advanced shortwave, super shortwave and microwave technologies.
The move is part of the corporation's efforts to become the largest information telecommunications and network security technology system manufacturer and integrator in China, group deputy manager Lei Zhihong said.
It aspires to become the largest manufacturing base for the wireless telecommunications, optic telecommunication components in China, he said.
Experts said the move will promote domestic network security products and help the firm compete amid the dominance of foreign new and high-tech companies.
The investment is believed to be the largest ever made in the network security sector.
Moving into the high-tech field is a key step in the strategy of Bluestar, better known as a chemical giant in China.
Analysts doubted whether the company could succeed in such a different sector.
But Guo Weidong, general manager of the former China Blue Star Network Security Technology Co Ltd and deputy general manager of the new group, insisted they will succeed.
"Although known for its achievement in the chemical industry, the information and network security sector is also a strong point of Bluestar,'' Guo said.
The company has already developed a new generation of anti-virus software, data restoration software, optical mouse which can help detect fingerprints and coding software, Guo said.
The company's latest effort is online anti-virus technology, data restoration technology and network security operating systems.
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