China will support the growth of data circulation service providers to accelerate the market-based use of data as a production factor, several top industry regulators said Saturday.
The National Data Administration (NDA), together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the China Securities Regulatory Commission, unveiled a guideline on cultivating data circulation service institutions to accelerate the market-based valuation of data elements, and clearly defines, for the first time, three types of data circulation service institutions to be cultivated.
This policy document aims to further clarify the functional positioning of data circulation service institutions, improve the efficiency of data circulation and transaction services, unleash the value of data elements, and accelerate the prosperity of the data market ecosystem.
The three types of institutions - data exchanges (centers), data circulation service platform enterprises, and data vendors - each have their own specific roles: data exchanges (centers) emphasize comprehensive service functions, data circulation service platform enterprises emphasize specialized development, and data vendors focus on increasing their efforts in developing data products and services.
"The guideline defines for the first time the main types of data circulation service institutions, emphasizing strengthening capabilities, promoting collaboration, and enlivening the ecosystem. It tailors policy measures for various institutions to promote their respective strengths, collaborative development, and continuous prosperity of the data market ecosystem," said Luan Jie, head of the policy and planning department of the NDA.
The document proposes exploring diversified circulation and trading models, encouraging various entities to expand exchange methods such as exchanging data for other data, orders, services, models, and scenarios.
It also proposes supporting various data circulation service institutions to strengthen cooperation with artificial intelligence companies and other entities, and to provide services such as data aggregation, governance, and model training based on data infrastructure.
"Currently, AI companies are generally facing a data shortage, and data circulation service organizations now have a new core mission to aggregate and integrate data resources across industries and fields, promote efficient matching of data providers with the needs of AI companies, and provide support for the in-depth implementation of the 'AI Plus' and 'Data Element X' initiatives," said Ma Yuan, a researcher at the Development Research Center of the State Council.
Unveiled by a government work report in 2024, the "AI Plus" initiative aims to promote the extensive, in-depth integration of AI across all industries throughout China's economy and society.
At the end of 2023, the NDA, in conjunction with relevant departments, issued the "Data Elements X" Three-Year Action Plan (2024-2026), aiming to drive sufficient supply and smooth circulation of data through efficient element utilization.
China to further support data circulation service providers to prosper data market ecosystem
