China’s newly established data management agency has just announced a three-year action plan to use the country’s vast information trove to boost the economy.
According to the plan announced by the National Data Administration (NDA) on January 4, China aims to build more than 300 application scenarios by 2026, the data industry grows by 20% each year and The volume of data transactions increases exponentially.
The initiative aims to “cultivate” a new driving force for China’s economic development, taking advantage of the country’s advantages including a large market, rich data resources, NDA said.
Visitors shake hands with robots at the 2023 China International Digital Economy Expo in Hubei. (Photo: Xinhua)
The agency’s plan involves mobilizing data sources to support the development of China’s own artificial intelligence (AI) large language models – the technology used to train applications AI like ChatGPT. It will also increase efforts for research institutions and leading enterprises to build industry databases, creating high-quality datasets for AI model training.
The blueprint comes at a time when China’s digital economy faces challenges including low quality data supply, poor circulation mechanisms and untapped potential for applications. .
The NDA was established in March 2023 as Beijing stepped up efforts to manage the country’s growing data resources, which are fragmented across different sectors and industries. The aim is to unlock economic value while ensuring security and privacy.
While the Cyberspace Administration of China has introduced laws and regulations governing data security, Beijing had no government agency overseeing data development policies until the NDA was established.
The new agency, which officially went into operation in October of the same year, was tasked with “coordinating and promoting the construction of data infrastructure, coordinating the integration, sharing, development and use of data resources”. data resources” across China’s economy and society.
The agency is part of the National Development and Reform Commission and is led by Liu Liehong, former chairman of China Unicom.
The three-year plan will “guide and encourage” different types of private capital to invest in the data industry and support data brokers in raising capital through IPOs. The NDA also identifies 12 industries that should make better use of data, including manufacturing, agriculture, commerce, transportation, finance and information technology.
China’s new data strategies come as the country seeks to catch up with the US in AI development, despite facing a series of challenges including limited access to advanced chips.
(Theo SCMP)
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