China has introduced new cyber security laws in a bid to tighten its grip on the Internet and improve cyber security after several incidents of online fraud and leakage of private information on the Internet.

The Cyberspace Administration of China (CAC), the General Administration of Quality Supervision, Inspection and Quarantine of China; and the Standardisation Administration of China (SAC) released a document on Wednesday with the new regulations.

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The paper states that the new guidelines will help to "regulate the the fields of major information technology infrastructure protection and classified networks, according to China's Xinhua news agency.

China's Internet regulators will fast track the introduction of standards in cyber security and ensure that the private information of Chinese citizens is protected. The new standards will be in accordance with the country's laws and regulations.

The document also emphasized on the requirement for an information-sharing tool that would be useful in major cyber projects and stressed on unified national standards that would make things easier for companies.

According to an online survey conducted by the Internet Society of China in June, 54 percent of respondents were of the opinion that leakage of private information online was a rampant occurrence and 84 percent of participants said that they had experienced an information leak first-hand.

Incidents of online fraud and leakage of private information in China have led to economic losses to the tune of 91.5 billion (USD 15.25 billion) between the second half of last year and the first half of 2016.

Tagschina, Cyber Security, cyber security laws, information leak, private information leak, online fraud, Cyberspace Administration of China, CAC