Big data expo set to boost digital economy; Chinese firms driving innovation, fostering global partnerships
China's focus on fostering and enhancing the big data ecosystem will greatly drive the high-quality growth of its digital economy and promote international cooperation, experts and industry insiders from home and abroad said at the China International Big Data Industry Expo 2024.
This year's expo, which kicked off on Wednesday in Guiyang, Southwest China's Guizhou Province, showcases the latest applications of big data technology and digital transformation. It also highlights China's efforts to strengthen international digital cooperation, especially in data flows, the Global Times learned.
Analysts said that cross-border data flows are critical for global socioeconomic interactions and underpin international business operations, logistics, supply chains and communication.
"There are significant opportunities for global cooperation in the big data-related sectors," Atul Athavale, a Germany-based cloud AI architect who is working with Huawei's research institute in Europe, told the Global Times on Wednesday.
Athavale noted that Germany remains open to cooperation, indicating a positive trend in China-Europe business relations.
"While the geopolitical landscape may present challenges, there will always be opportunities for businesses to connect and collaborate," said Athavale.
Right before the expo, China and the EU established a mechanism for cross-border data flow communications on Tuesday to enhance two-way data flows.
This mechanism aims to facilitate the secure and efficient transfer of data between China and the EU, promoting economic growth and innovation.
Apart from China-EU cooperation in the digital field, China is advancing global cooperation, with Chinese companies having contributed to the global process of digitalization and big data cooperation.
Chen Xuannian, a manager at Chinasie, a Guangzhou-based information technology firm, told the Global Times that the company helps enterprises complete their digital intelligence transformations and is actively offering digital services to about 200 Chinese companies operating overseas.
Data has become a new factor of production and serves as the key element of the digital economy, a representative of iFlytek told the Global Times. The company is rolling out numerous AI-driven applications for global users.
In recent years, China's data industry has grown, and preliminary calculations have indicated that the industry will maintain an annual growth of more than 20 percent over the coming years, Liu Liehong, head of the National Data Administration, said on Tuesday at a sideline event at the Big Data Expo 2024.
China has formed a relatively complete data industry chain, covering the entire life cycle of acquisition, storage, calculation, management and use, the official said, noting that the administration will work on a four-part approach to nurture the development of the data industry, and improve the quality of the digital economy.