What’s new: China’s newly created national data administrator Friday issued its first policy document outlining the roadmap for the data industry development over the next three years.
By the end of 2026, it will expand at an average annual rate of 20%, with the size of data transactions doubled, according to the draft document released by the National Data Bureau for public comment.
The document indicates that more scenarios for data transaction applications will be created, spanning industries such as smart manufacturing, agriculture, commerce, transportation, green finance, healthcare and tourism. Public opinions on the document will be collected until Dec. 22.
The document also pledged to increase data supply as a public resource, improve rules on privacy protection and set up regulations governing data collection, management and security.
The context: China unveiled the new National Data Bureau in March as part of a revamp of the government. The bureau is responsible for promoting the development of data-related fundamental institutions, as well as coordinating the sharing and application of data resources. It is administered by the National Development and Reform Commission.
In July, Liu Liehong, a former chairman of the state-owned telecom giant China Unicom, was named to lead the new agency.
The creation of the data regulator shows China’s intent to balance supervision with encouragement of the digital economy, industry experts said. The digital economy accounts for 17% of China’s GDP and is at the center of the country’s drive to create new national competitive advantages, State Councilor Xiao Jie said in March.
Contact reporter Han Wei (weihan@caixin.com)
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