China to boost data-driven growth with 3-year plan
2024-01-23 | Xinhua

This photo taken on Nov. 23, 2023 shows a laparoscopic surgical robot at the second Global Digital Trade Expo in Hangzhou, east China's Zhejiang Province. [Photo/Xinhua]

China launched a three-year action plan on Jan. 4 to leverage data as a key factor of production and unleash its potential in driving economic and social development.

The plan, jointly released by 17 government departments, including the National Data Administration (NDA), outlines strategies to boost data utilization across 12 key sectors, ranging from manufacturing and finance to technological innovation and green, low-carbon development.

Addressing a forum at Peking University on Jan. 7, Liu Liehong, head of the NDA, underscored the pivotal role of data in driving economic growth, saying, "Building a digital economy with data as a key element is the crucial driving force for releasing the value of data."

By the end of 2022, China's data output reached 8.1 ZB, an increase of 22.7% year on year, accounting for 10.5% of the global total.

Liu elaborated on the vision behind the plan, explaining, "We are promoting this initiative to enhance the application of data in multiple scenarios, improve resource allocation efficiency, create new industries and new models, cultivate and develop new momentum, and achieve a multiplier effect on economic development, thereby promoting the digital economy."

He outlined upcoming steps, indicating collaborative efforts with relevant departments to implement the action plan through initiatives such as pilot projects, competitions and the publication of typical cases.

Jiang Xiaojuan, president of the China Society of Industrial Economics and a professor at the University of Chinese Academy of Social Sciences, emphasized the imperative to bolster the digital economy's development through effective data utilization. This includes not only empowering traditional industries with widespread data elements but also prioritizing production enterprises in data and intelligent industries, along with investing in essential infrastructure related to data computation and transmission.

Acknowledging the global nature of cross-border data control, Jiang stressed the importance of considering both the multiplier effects of data within the country and those arising from the open flow of cross-border data. She added that in response to these considerations, China is actively accelerating efforts to enhance the efficiency of cross-border transaction management methods.

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