Data resources are the new advantage of the digital economy.

General Secretary Xi Jinping emphasized the role of data as a fundamental resource and an innovative accelerator, accelerating the formation of a digital economy that is led and supported by innovation. In the first half of this year, our country has expedited the construction of a data infrastructure, continuously unlocking the potential of data elements, and aiding the digital economy in moving toward high-quality development.

This year, China’s data resource system construction has been flourishing. In Shanghai, the Zhangjiang Science City is being developed as a hub for the data element industry cluster. In Fujian, the Big Data Exchange, established last year, has driven a total output value exceeding 4.2 billion yuan. In ShanXi, over 20 provincial-level departments have initiated the application of a government data sharing platform, exploring new models of data cooperation.

Data resources is the core element of constructing a digital China. General Secretary Xi Jinping has given important directives on the development of data resources, proposing to promote efficient circulation and utilization of data, empower the real economy, coordinate the advancement of data property rights, circulation transactions, income distribution, and security governance, and accelerate the construction of a data infrastructure system.

After years of development, China has accumulated a large amount of data element resources, but there is still a considerable portion of “dormant data resources.” The General Secretary proposed speeding up the construction of a data infrastructure system, and providing a clear guidance for empowering the economy with data elements for high-quality development.

By the end of 2022, the country introduced the “Twenty Rules for Data,” accelerating the construction of a data infrastructure system from four aspects including data property rights and circulation transactions. Earlier this year, the “Overall Layout Plan for Building a Digital China” was released, emphasizing the smooth flow of data resources. The National Data Bureau was established to coordinate the planning and construction of digital China, digital economy, and digital society. With the continuous improvement of top-level design, the deployment of China’s data element market is accelerating.

As of now, 48 data trading institutions have been established nationwide; the market operating system for data asset assessment, registration, and settlement is accelerating construction; specialized enterprises in data collection, storage, and application fields are rapidly growing, and the data element industry system is initially taking shape. In the Shenzhen Data Exchange, more than 1,500 data products have been launched since its establishment.

China’s data element industry ecosystem is improving daily. Thirty-three national standards in the field of big data have been issued, and the data element circulation standard system is gradually being established. Many places such as Guangdong and Tianjin are exploring the establishment of a “Chief Data Officer” mechanism, accelerating the cultivation of data management talents. Twelve national new industrialization demonstration bases in the field of big data have been established, and the benefits of industry aggregation continue to be stimulated.

As various regions are exploring new data circulation models and different applications, the continuous release of the data elements is becoming the new driving force for promoting high-quality economic development. In 2022, China’s big data industry reached a scale of 1.57 trillion yuan, a year-on-year growth of 18%; data output reached 8.1 zettabytes, a year-on-year growth of 22.7%, accounting for 10.5% of the global total data output. The supply capacity of data resources and innovative circulation applications continue to improve, and data elements are becoming the most advanced and active new production factors beyond labor, land, capital, and technology.