President Barack Obama is to meet with chief executives from some of the largest companies in the US to discuss plans for tackling the growing scourge of cyber threats.
According to reports, the White House has confirmed the meeting will take place late Wednesday in response to growing threats to US firms and recent reports from top security officials that cyber attacks pose a serious risk to the nation.
"We judge there is a remote chance of a major cyber attack against US critical infrastructure systems during the next two years," said James Clapper, director of National Intelligence, in the report on Tuesday.
The reports have not specified which firms are likely to be involved in the meeting. V3 contacted the US Embassy in London for more information but had received no reply at the time of publication.
Donilon said that China-based cyber attacks on the enterprise sector can damage the countries international image. China and the US need to engage in an open dialogue to stop attacks and establish acceptable behaviours for cyberspace, he added.
"First, we need a recognition of the urgency and scope of this problem and the risk it poses - to international trade, to the reputation of Chinese industry and to our overall relations," said Donilon during a speech at The Asia Society.
China has denied any wrongdoing, though, and on Tuesday said it was willing to engage on the issue with the international community.
"We are ready to work with the international community to carry out constructive dialogues and cooperation on safeguarding cyber security. We oppose groundless speculation and accusation on [the] hacker attack issue," said a foreign ministry spokesperson.
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