(Yicai) Jan. 7 -- China aims to finish constructing its national data infrastructure by 2029, creating a unified “data ledger” that enables the orderly sharing and use of data across government, industries, and businesses, according to a new policy document.

The document, jointly released yesterday by the National Development and Reform Commission, the National Data Administration, and the Ministry of Industry and Information Technology, defines national data infrastructure as a new type of infrastructure serving all sectors of society. 

It integrates hardware, software, algorithms, standards, and mechanism design to enable data collection, aggregation, transmission, processing, circulation, utilization, operation, and security, the document said.

The national data infrastructure is intended to support the large-scale sharing and use of data among various entities, Du Wei, director of the NDA’s digital technology and infrastructure development department, said at press briefing.

This will fully unlock the economic value of data as a factor of production as well as leverage the country’s massive data resources and diverse application scenarios to drive the development of a “Digital China,” Du said.

A 10 percent increase in data flow can add 0.2 percentage point to gross domestic product growth, he noted, citing estimates by research institutions.

The infrastructure will promote data sharing and use and drive the development and upgrading of network, computing power, and security facilities, noted Shen Zhulin, deputy director of the NDA.

According to preliminary estimates, related projects are expected to attract about CNY400 billion (USD54.5 billion) in direct investment annually, reach about CNY2 trillion (USD272.8 billion) in total in the next five years, Shen said.

The infrastructure will include a foundational infrastructure for data sharing and use, an efficient data supply system, a trusted circulation system, a convenient delivery system, and an industry data application system, according to the document.

The main goal of the foundational infrastructure is to achieve comprehensive coverage of economic and administrative entities, including government, industries, and enterprises, and facilitate the orderly circulation and shared use of data among them.

The document also noted that China should strive to increase the central government’s investment in the national data infrastructure while actively encouraging private money to participate.

Editors: Tang Shihua, Futura Costaglione