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Guizhou University’s State Key Laboratory of Public Big Data in China is at the forefront of the country’s digital economy. With one of the fastest-growing digital economies in the world, recent reports indicate that in 2022, it exceeded 50 trillion yuan ($6.91 trillion), accounting for 41.5 percent of the country’s GDP and ranking as the world’s second-largest digital economy.
However, despite this growth, China’s data assets face challenges such as a lack of high-quality supply, unclear compliance-based usage paths, and inadequate added value post-application. To address these issues, the Ministry of Finance has released guidelines to enhance the data asset management system. Efforts are underway to broaden the application scenarios for data assets, increasing their economic and social worth.
The government aims to establish a development and utilization framework for public data assets while balancing data security and personal information protection laws. Measures are being devised to assess data assets accurately and safeguard public data resources. The focus is on leveraging public data resources to support public initiatives, particularly those in scientific research, public health, and environmental protection, prioritizing their use for beneficial purposes with streamlined application processes.
Emphasis is placed on defining data security supervision parameters to prevent unnecessary restrictions on data asset use for public endeavors due to security concerns. Effective management of data assets will also prioritize personal information protection, ensuring responsible and ethical data utilization practices. Together, these initiatives reflect China’s commitment to harnessing data assets for the collective good while upholding data security and privacy standards.
In conclusion, China is committed to developing its digital economy by investing in its data asset management system while ensuring responsible and ethical use of these valuable resources. The government continues to work towards establishing a framework that balances both economic growth with privacy protection laws while exploring new ways to leverage public
