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Aiming for huge Big Data sector

 

CHINA aims to more than triple the scale of its Big Data industry by 2020 in a bid to foster new economic drivers, said a government plan released yesterday.

The country’s Big Data industry should increase its annual sales to 1 trillion yuan (US$146 billion) by 2020 from an estimated 280 billion yuan in 2015, said the plan released by the Ministry of Industry and Information Technology.

 The government is targeting a compound annual growth rate of around 30 percent for the industry’s sales in the 2016-2020 period, according to the plan.

It also set goals to create 10 world-leading Big Data companies by 2020 and create 10-15 experimental zones to speed up the industry’s development.

Efforts to promote Big Data application and make traditional industries smarter can add new momentum to China’s economic transformation, the MIIT said.

The past few years have seen rapid growth of China’s information industry, it said.

This article was originally published on www.shanghaidaily.com and can be viewed in full

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