Data has been regarded as critical in developing China’s data services economy and promoting industrial and government digitalisation. According to a whitepaper published by the China Academy of Information and Communications Technology (CAICT), China ranks first in terms of the total number of accepted patents linked to big data, accounting for more than half of all globally in 2021.
Recognising its significance, China has increased its investment in big data research. The white paper revealed that China accounted for 31% of the world’s published studies on big data.
CAICT demonstrated that the general level of China’s big-data technology industry has substantially improved, innovation capacity is being expanded, and the market forecast is widely acknowledged. In 2021, the total number of big-data market participants in China will approach 180,000, and investment in big-data-related firms will reach a new high of 80 billion yuan (US$11.6 billion).
“In 2022, China continues to step up its efforts in terms of policies, talent, and money, providing a significant push for the continuing growth of big data,” told Yu Xiaohui, CAICT’s head.
The whitepaper gave at the 5th Data Asset Management Conference. It gave a comprehensive overview and analysis of the current situation, difficulties, and developments in data storage and computing, data management, data circulation, data application, and data security.
As a realisation step to its big data objectives, China’s investment in large data centres is predicted to increase by more than 20% per year (2021-25). As a result, cumulative investment in linked industries is expected to exceed 3 trillion yuan (US$ 471 billion), according to the country’s top economic regulator.
Furthermore, the country has approved the construction of eight national computing hubs and proposals for ten national data centre clusters to increase overall computing power and resource efficiency.
As per National Development and Reform Commission (NDRC) data, 25 new projects were launched in the ten national data centre clusters this year, resulting in a total investment of more than 190 billion yuan (US$ 28,7 billion). Investment in western regions has increased six-fold over the previous year, accounting for 60% of overall investment. The NDRC declared that the next stage would be to increase efforts to successfully encourage investment in upstream and downstream industries and promote the large-scale and green development of Big Data centres.
Meanwhile, the scale of China’s big data industry is expected to exceed 3 trillion RMB (US$ 471 billion) by 2025, with a compound growth rate of about 25%, according to the Ministry of Industry and Information Technology’s (MIIT) development plan.
The plan also intends to establish a data element value evaluation system, strengthen the basis of the big data industry, create a stable and efficient industrial chain, and encourage the growth of the industrial environment.
MIIT also called for improved cross-border big data security management in a five-year strategy until 2025. The initiative comes as the country moves forward with its data and technology regulatory framework. It reaffirms data as a production factor and a national strategic resource.
Aside from that, China recognises that, as data volumes increase, it must adopt laws to promote the effective use and circulation of public, personal, and corporate data and strengthen governance over data resources. Accordingly, the Central Committee of the Communist Party of China and the State Council, or Cabinet, generates a plan to develop a data ownership system, a circulation and trading system, and a way to distribute digital currency.
The new guidelines are intended to encourage the lawful and efficient use of data to empower the real economy and allow individuals to benefit from the rise of the digital economy. The new policies also will enable the country to respond to the global technological revolution and industrial transformation while increasing its international competitiveness.
