Searching for cyber security
Friday, 26 March 2004 12:50 EST
The launching of a new kind of insurance for consumers is being discussed between the Shanghai Electronic Business Association (SEBA) and the Shanghai Insurance Association (SIA) to protect consumers' rights during online business transactions. The lack of a secure credit system has become a serious bottleneck hampering the booming Internet business.
As the watchdog of online business in Shanghai, SEBA expects a lot from the new insurance initiative.
"The new insurance system will promote online business by protecting consumers' rights and encouraging more people to engage in business online. It is a necessary precondition for any proper online credit system," said Yi Yong, secretary general of SEBA.
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