China has announced plans for a national data bureau, describing it as part of an effort to coordinate data resources in the country and to achieve a vision of 'digital China' conceived by President Xi Jinping.
Such efforts, however, have been considered fragmented and talk of a more unified approach has emerged in recent months.
"In retrospect, recent developments were clearly building toward the inauguration of this new agency," analysts at Trivium China said in a note on Tuesday.The plan submitted to parliament was scant on detail, saying the bureau would be responsible for "coordinating the integration, sharing, development and application of data resource" and promoting the construction of smart cities.
Citic Securities analysts said in a note on Tuesday they believed the bureau's formation meant that "China will accelerate the development of the data factor market within the country." "The new agency seems to be more on the 'data productivity' side, to make and develop data as a strategic strength for China," said Michael Tan, a Shanghai-based partner of law firm Taylor Wessing. "That also explains why CAC remains and this new agency belongs to NDRC."
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