(Yicai Global) Oct. 13 -- Chinese internet security giant Qihoo 360 Technology Co.[NYSE:QIHU] has established a subsidiary in Xiong'an New Area in northern Hebei province, becoming the first cybersecurity company to enter the new district, Shanghai Securities News reported yesterday.
Qihoo 360's Xiong'an office has registered capital of USD1.52 million (CNY10 million).
The firm will focus on training network security personnel at the new unit and expand its protection to all aspects of infrastructure, including city safety, corporate security and industrial safety.
Internet giant Tencent Holdings Ltd. [HKG:0700] registered its own Xiong'an branch in September, becoming the first internet company to set up shop in the area. Baidu Inc. [NSADAQ:BIDU], Alibaba Group Holding Ltd. [NYSE:BABA] and JD.com Inc. [NASDAQ:JD] are all expected to follow suit in the near future.