China plans for 15% annual data industry growth as digitisation deepens
A recent set of government guidelines is positioning China’s data industry as a major growth driver in the coming years
China’s top economic planner has unveiled its blueprint for the country’s data industry, with ambitions for over 15 per cent annual growth in the sector by 2029 as digitalisation continues across the world’s second-largest economy.
Advancing the development of artificial intelligence (AI) and achieving breakthroughs in data technology were major points in a set of guidelines issued jointly on Monday by the National Development and Reform Commission (NDRC) and five other departments.
“The data sector is at the heart of industrial transformation,” said Chen Ronghui, deputy head of the commission’s National Data Administration, at a press briefing covering the guidelines on Tuesday.
The guidelines encouraged industry players and internet platforms to establish independent entities for data operations, aiming to strengthen and scale up the data sector through intensive, large-scale development.
At the same time, the document called for greater support for small and medium-sized enterprises (SMEs), urging larger entities to provide SMEs with access to data, algorithms and computing power.
Lower-level government bodies were also encouraged to fund early-stage and small enterprises, as well as establish specialised funds to cultivate professional investors within the data sector.
