China establishes state-owned National Data Group

BEIJING, Oct 20 (Reuters) - ‌China ​on ​Tuesday inaugurated the National Data Group, a new state-owned enterprise that ‌will focus on developing and utilising ⁠data resources, state media reported, saying the ‌establishment will boost Beijing's ‌position in global data resources competition.

• Headquartered in Xiongan, about 100 km southwest ​of Beijing, the group will serve as a national platform to promote ⁠cross-industry, cross-regional data flow and sharing.

• The group will ​work with multiple stakeholders to develop China's data economy, exploring new ​business models and expanding ‌the market, state television CCTV said.

• China's Vice Premier Ding ⁠Xuexiang attended the inauguration ceremony in Xiongan on Tuesday.

• Ding said the establishment is ⁠of great significant for seizing opportunities in artificial ​intelligence and strengthening China's competitive edge, according to state media.

• China formed the National Data Administration ‌in 2023, which handles policy design while the National Data ‌Group's focus will be on market ⁠operations and implementation ‌of data resources, ​CCTV added.

(Reporting by Shi Bu and Liz Lee; Editing by Kirsten ‌Donovan)

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