China will ramp up efforts to bolster the high-quality development of the data industry, with the compound annual growth rate of the data industry surpassing 15 percent by 2029, according to a new guideline released on Monday.
The guideline, which was jointly released by the National Development and Reform Commission, the National Data Administration and four other government departments, stated that the move is part of the country's crucial measures to deepen reforms related to the market-oriented allocation of data elements and build a digital economy with data as the key element.
By 2029, the structure of the data industry will be significantly optimized and the supply capacity of data products and services will be greatly improved, while a batch of data enterprises with global competitiveness will be cultivated, the guideline said.
More efforts will be made to accelerate the technological innovation of data, improve the development and utilization level of data resources, promote the circulation and trading of data, as well as strengthen the construction of data infrastructure, it noted.
Measures should also be taken to propel government departments, industry leading enterprises and internet platform firms to open more scenarios, and support enterprises to expand the application of data elements in fields like manufacturing and modern agriculture, so as to promote the deep integration of the real economy with the digital economy.
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