Maximizing Value of Corporate Data Resources

China's National Data Administration and four other government departments recently released a guideline to promote the development and utilization of corporate data resources.

Recognizing data generated or legally acquired by enterprises during their operations as a crucial resource for growth, the guideline underscores the importance of balancing data development with security. It focuses on reforming the market-driven allocation of data resources, stimulating corporate innovation, and perfecting robust mechanisms for enterprises to realize their data rights.

The guideline outlined five key focal areas, accompanied by 13 specific measures designed to enhance the operational landscape for businesses. These areas include improving corporate data rights realization mechanisms, fostering corporate digital competitiveness, enabling industrial transformation and upgrading, contributing to high-quality socio-economic development, and creating an open, transparent and predictable development environment.

In enhancing corporate data rights, the guideline stipulates that businesses legally possess various data rights as outlined in law, commercial contracts or administrative agreements. The country supports firms in the legal development, utilization and trading of their data, while ensuring protection of their legitimate operational returns.

In addition, a fair and efficient data value distribution mechanism will be established to assist enterprises in realizing the creation and enhancement of data value through the production, supply, circulation and usage of data products and services.

To cultivate enterprises' digital competitiveness, the guideline advocates for the widespread adoption of cloud computing, edge computing, big data analytics, and other platform services. Companies are encouraged to develop and utilize intelligent tools, creating a comprehensive data resource system across all processes of research, production, sales, service and management.

Furthermore, there is a call for industry leaders to spearhead efforts in creating reliable data sharing ecosystems that facilitate data accessibility among small, medium and large enterprises.

To ensure effective implementation of these measures, the guideline emphasizes the importance of cultivating expertise in the data sector. Support for education and training programs, including industry-education integration and practical training bases, will be intensified to nurture skilled professionals in areas such as data governance, analysis, compliance and annotation, as well as AI training.

This comprehensive approach aims to maximize the value of corporate data resources, and establish a digital economy with data as a key element.

Source: Science and Technology Daily