Report: local big data industry to transform trade

Guizhou province released a white paper on big data development at a news conference at the 2017 China International Big Data Expo from May 25-28 in Guiyang, capital of the Southwest China province.

The paper - Big Data Development of Guizhou in 2016 - was co-written by the Development Research Center of Guizhou and the province's big data development administration, highlighting 10 achievements in the area's big data industry.

In 2016, a total of 15 billion yuan ($2.2 billion) was invested in information infrastructure, according to the white paper.

It said that the "Guizhou on the Cloud" system convened 534 application systems with the highest recorded clicks of 1 billion per day.

Big data technology has been applied to the agricultural, industrial and service sectors and has thus enhanced public service and benefited the people. Among the 10 achievements is the establishment of regulations and important standards for the big data industry.

Ten predictions for the big data sector were released by the International Data Corporation (IDC). It predicted that in 2017, data-based earnings among one third of the top 500 enterprises around the world will be twice that of other products and services.

Seventy-five percent of enterprises and independent software vendors will embed at least one artificial intelligence or machine-learning function in their products by 2018 and the proportion will be higher in the area of business analytical tools.

Huang Bo, director of the Beijing Great Wall Enterprise Institute, made public the report of China's big data unicorn companies and made detailed interpretations at the news conference.

Four enterprises - Alibaba's financial affiliate Ant Financial, on-demand mobility giant Didi Chuxing, China's leading group-buying providers Meituan and Dianping, and online news aggregator Toutiao - are categorized as "super unicorn" companies with a valuation of more than $10 billion each.

Most of the unicorn enterprises are in the finance, big data and logistics sectors, accounting for 65.52 percent of the national total, said the report.

The big data industry in Guizhou grew rapidly in 2016 with a year-on-year increase of 46 percent. The number of enterprises with an output value surpassing 1 billion yuan added up to 17.

China has become the world's largest e-commerce market. The sector has contributed to the transformation of traditional industries and cross-border online retailers have become the new hope of foreign trade growth, according to the report.

At the same time, a series of problems, including unbalanced regional development, unfair competition between new and old market players, and differences between online and offline market orders, need to be addressed with joint efforts from the government, enterprises and society, said the Guiyang Consensus released at the expo.

"Guizhou should make full use of the policy advantages in the comprehensive experimental zone and improve its market environment," said Zhong Zhenshan, vice-president of IDC China.

He said that mechanisms to attract and foster trained professionals should be improved, and Guizhou needs to increase publicity and raise its profile in the global market.

"Exchanges and cooperation at home and abroad must be strengthened," said Zhong. "Guizhou's digital economy can achieve breakthroughs with its unique development path."

jiangxingguang@chinadaily.com.cn

(China Daily 06/01/2017 page10)