Kingsoft Network has reportedly launched its Web browser initiative and the new product is currently undergoing beta testing.

According to reports in Chinese local media, Fu Sheng, chief executive officer of Kingsoft Network, has published a post on the company’s internal forum, saying that Kingsoft’s browser will soon start recruiting testers. This is reportedly the first time for Kingsoft Network to reveal the development process of this product.

Prior to this, rumors on the Internet already revealed Kingsoft Network’s development of a browser product and there was even a screenshot of this product. However, the company refused to comment on the rumors and kept the development process a secret.

In recent years, many Chinese Internet security companies have launched browsers and other Internet products to compete with Western software like Microsoft’s Internet Explorer, Mozilla’s Firefox, and Apple’s Safari. Qihoo 360 and Rising have recently developed Internet browser products in China. According to the financial report of Qihoo 360, by the end of December 2011, its browser user penetration had claimed to have reached a whopping 59.5% in China.