Shanghai Government Issues “Action Plan for Promoting Data Factor Industry Innovation and Development in the New Digital Economy”, Deepening the Application of Blockchain Technology

Foresight News reports that the Shanghai Municipal People’s Government Office has issued the “Action Plan for Promoting Data Factor Industry Innovation and Development Based on the New Digital Economy Track (2023-2025)”. The overarching goal is to promote the globalization of data resource allocation, the full-chain layout of the data industry, and comprehensive development of the data ecosystem, with the aim to build an internationally influential data factor allocation hub and a high ground for data factor industry innovation.

By 2025, the data factor market system will be fundamentally established, and the status of the national-level data exchange will be solidified. The momentum of the data factor industry will be fully unleashed with the data industry scale reaching 500 billion yuan, an annual compound growth rate of 15%, and the cultivation of 1,000 data-centric enterprises. There will be the establishment of super-nodes integrating data chains, the formation of 1,000 high-quality data sets, the creation of 1,000 branded data products, and the selection of 20 national-level big data industry benchmark models. The overall development ecosystem of data factors will leap forward, with continuous improvement in the cybersecurity and data protection system, and comprehensive deepening of international exchanges and cooperation.

The notice also points out the plan to layout data trading chain hubs across the country, utilizing blockchain technology to promote the interconnection of trading institutions, mutual recognition of data-centric entities, and linking of on-site and off-site transactions. This aims to construct a unified registration and evidence storage service system for data resources, products, and assets. It also stresses the importance of strengthening the innovative integration of data chains, deepening the application of blockchain technology in data resource development, data product research and development, and data asset registration, and building a trustworthy framework that links transaction circulation, profit distribution, and security governance. Furthermore, there will be an accelerated layout of new infrastructure, strengthening innovations in blockchain chips, operating systems, and key technology applications such as 6G, terahertz, and quantum communication.