China Establishes National Data Company to Support Artificial Intelligence Sector

China has announced the establishment of a new state-owned company named National Data Group Co. to manage the country's massive data resources and strengthen the artificial intelligence industry.

China has established a new state-owned company named National Data Group Co. to develop the artificial intelligence industry and support the digital economy. Positioned in the Xiongan New Area in Hebei province, the company will undertake the tasks of developing data resources, unlocking the value of data, serving artificial intelligence efforts, and building a data industry ecosystem.

Vice Premier Ding Xuexiang attended the opening ceremony of the company. Ding stated that this move is a strategic decision made by the party leadership under President Xi Jinping, emphasizing that it is of vital importance for seizing the initiative in artificial intelligence and accelerating the construction of a digital China. According to sources, authorities aim to attract technology companies over the next few years that could reach a value of 10 billion yuan in key sectors such as artificial intelligence, satellite internet, and robotics, and be listed on major stock exchanges including Hong Kong.