China’s development centered on digital resources is gaining momentum under a new three-year plan aimed at boosting information use to support economic and social growth.
China's data-driven development has gained momentum since the launch of a three-year action plan. The 2024–2026 initiative aims to promote the use of data as a factor of production and strengthen its role in supporting economic and social development.
The National Data Administration, China’s central government agency responsible for data governance and digital development, said on Thursday that the plan has already made solid progress in turning data into a valuable resource for industries.
Since the strategy was launched over a year ago, more companies have entered the data market. According to official Luan Jie, nearly 500 digital tech firms have been established by central enterprises, and around 66% of leading companies across various sectors have begun purchasing data.
The integration of data has helped businesses achieve better performance and efficiency across a range of sectors. For instance, in agriculture, certain farming enterprises have boosted crop yields by 5.5% through data-driven fertilization strategies. Meanwhile, in the industrial sector, top companies have reduced research, procurement, and product delivery cycles by more than 30% by leveraging data across their entire supply chains.
Authorities have pledged to continue advancing pilot initiatives, addressing existing challenges, and fully implementing the national framework.
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Russia is considering the possibility of joint projects with the United States and China, Kirill Dmitriev, Head of the Russian Direct Investment Fund, (Russia's sovereign wealth fund), was quoted as saying by state media on Wednesday.
Demand for electric vehicles has surged across Europe as elevated fuel prices linked to the Iran conflict push consumers toward new and second-hand EVs, according to data shared with Reuters. It is providing a boost to an auto industry that has struggled with slower-than-expected adoption.
South Korea’s Samsung Electronics is facing its largest potential labour action in years, with tens of thousands of workers preparing for a prolonged strike over bonuses and profit-sharing at a time when the company is benefiting from a global artificial intelligence (AI) driven chip boom.
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By the time American shoppers began noticing higher prices on everything from trainers to televisions, the world's two largest economies were already deep in a trade war that left the world wondering how it would end.
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