By Susan Ning , Wu Han, Zhao Yangdi King & Wood Mallesons’ Commercial & Regulatory group
Big data has become a hot topic in recent years, and the big data industry has been considered as one of the critical sources of economic growth by governments around the world. The U.S. Government issued reports on the big data industry – “Big Data Research and Development Initiative” and “2014 Big Data: Seizing Opportunities, Preserving Values” – in an effort to promote the development of this industry. Likewise, the State Council of China released the Circular on the Issuance of the Action Plan on Promoting the Development of Big Data Industry (“《关于印发促进大数据发展行动纲要的通知》”) in September 2015. This is the first time ever that China has designed a plan for the development of the big data industry at the state level, aiming to unlock the value of China’s big data industry and to push forward the development and application of big data. In addition, the Thirteenth Five Year Plan on the Development of National Economy and Society (“《国民经济和社会发展第十三个五年规划纲要》”) issued in 2016 also points out that “to expand the space for the network economy, to promote the sharing of data resources, and to implement the big data strategy”.
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