In China, meanwhile, the Chinese Communist Party (CCP)’s Central Committee and State Council released important Opinions in April that call for accelerating the creation of a unified technology and data market.
In February, the European Commission proposed a new Data Act, while the Data Governance Act (DGA) is close to becoming law. Many jurisdictions are striving to unlock the economic and innovative potential of this data. To activate data as an economic and societal resource, China is creating state-backed data marketplaces – a way of bringing greater legal certainty to a chaotic market, but potentially also of pressuring private companies into sharing more of their data.īy 2025, it has been estimated, the world’s volume of data will reach 175 zettabytes (ZB), up from 33 ZB in 2018. While the EU sees itself as a regulator of a free data market, China wants the state to play a much larger role in directing the circulation of data, which it views as a strategic national asset.
#STANDARD FORM OF A CIRCLE SERIES#
This piece is the first part of a three-part series on data as a factor of production and a national resource in China, written by analysts in the MERICS Research Team on Science, Technology and Innovation Policies. Rebecca Arcesati says it could have a big impact on Chinese and foreign companies. Beijing wants to create a data economy that prioritizes state sovereignty and localization.
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