China will further promote the development and utilization of corporate data resources to fully unleash the value of such data and build a digital economy with data as a key element, according to a new official guideline.

The guideline was jointly released by the National Data Administration, the Office of the Central Cyberspace Affairs Commission, the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State-owned Assets Supervision and Administration Commission of the State Council.

The data generated or legally obtained and held by enterprises in the process of production and operation are important resources for their development, the guideline says, urging efforts to promote the development and utilization of enterprise data resources, enhance enterprise competitiveness, empower digital transformation in industries, and help improve governance efficiency and public service capabilities.

This will provide strong support for fostering new quality productive forces and promoting high-quality development, it says.

The guideline provides specific arrangements in five areas: establishing a mechanism to safeguard corporate data rights and interests; cultivating the digital competitiveness of enterprises; empowering industrial transformation and upgrading; serving high-quality economic and social development; and creating an open, transparent and predictable development environment.

On high-level data openness, it encourages enterprises to actively participate in the formulation of international data governance rules and technical standards.