China's Big Data Industry to Exceed 3 Tln RMB by 2025
By Staff Reporters
The scale of China's big data industry is estimated to surpass three trillion RMB by 2025, with a compound growth rate of about 25 percent, according to a development plan for the big data industry during the 14th Five-Year Plan period (2021-2025) released by the Ministry of Industry and Information Technology (MIIT) on November 30.
The plan also proposes to primarily establish an evaluation system for data element value, make the foundation of the big data industry more solid, create a stable and efficient industrial chain, and promote the positive development of the industrial ecology.
In order to achieve the goals, China will accelerate the cultivation of the data element market and transform the advantages unique to big data into important driving forces for the high-quality development of the industry.
The arrangement of telecommunications infrastructure is to be accelerated, including setting up an integrated national big data center and a big data center for industrial Internet. Technological innovation and standardization will be strengthened as well.
Regarding building a stable and efficient industrial chain, the plan puts forward a value enhancement action of big data in raw materials, equipment manufacturing, consumer goods and electronic information.
There will be another action of big data development and application in nine fields, including telecommunications, finance and medical treatment.
To build a good industrial ecology, China plans to encourage the development of concerned enterprises, optimize the public service through big data and promote the clustering development of the big data industry.
Data security is also emphasized in the plan. The country aims to enhance its ability in data security management, reinforce the management of cross-border data security and set up a monitoring system for data security.
MIIT also simultaneously released a development plan for the software and information technology services sector, and one on integrating China's industrial sector with information technologies.