Illustration photo of computer code on a screen above a Chinese flag
SHANGHAI (Reuters) – China's Ministry of Industry and Information Technology (MIIT)called for improved cross-border security management of big data till 2025, in a five-year plan published on Tuesday.
The plan, which builds off of China's 14th Five-Year Plan published earlier this year, comes as the country has pushed forward its regulatory framework for data and technology. It re-affirms data as a “factor of production” and a “national strategic resource”.
The plan contains six key tasks, including improving the “marketization” of data, improving computing power, and playing a leading role in developing global technology standards.
It also called for strengthening of management of cross-border data flows and more support for open source initiatives.
The scale of China's big data industry will exceed 3 trillion yuan ($470.79 billion) by the end of 2025, MIIT estimated.
Beijing implemented two key laws this year – the Personal Information Protection Law and the Data Security Law, which govern how companies and organisations may store and move data.
($1 = 6.3723 Chinese yuan renminbi)
(Reporting by Josh Horwitz; Editing by Clarence Fernandez and Muralikumar Anantharaman)Internet Explorer Channel Network