At the end of 2022, China’s State Council released a document on establishing fundamental institutions for data management, covering data property rights, data exchange and transaction and data safety.
Data must be classified into public data, enterprise data and individual data. The document clarifies how to define and manage property rights and the right of data use and operation based on different classifications. As for exchange and transaction, the document proposes to establish a data transaction body with procedures and rules of supervision for data safety. The document emphasizes enabling the market to decide on profit distribution in the transaction and encourages social forces to participate in the management.
Analysts said the document is helpful to promote a unified data market and stimulate data’s potential in the factors market. According to Chinese media reports, China’s total amount of data will reach 48.6 zettabytes by 2025 (1 zettabyte is around 1 trillion gigabytes), 27.8 percent of the world’s total.
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