China Data Chief Urges Full-Chain Market Reforms for Enterprise Assets

Speaking at the 2026 China International Big Data Industry Expo in Guiyang, National Data Administration Director Liu Liehong stated that data has become a vital driver of enterprise competitiveness and adaptability. Liu highlighted an inter-agency "531" implementation framework designed to balance growth with data security. Looking ahead, the administration plans to foster the integration of public, corporate, and external datasets, while urging industries to bridge the entire institutional pipeline—spanning property rights confirmation, asset pricing, revenue distribution, market circulation, and security oversight—to unlock enduring economic value.

Beijing's classification of data as a core factor of production requires moving beyond theoretical policy statements into viable market mechanisms. By emphasizing a full operational chain—specifically naming asset valuation, pricing, and revenue allocation—the National Data Administration is signaling that market-oriented allocation reforms will accelerate. If enterprises can reliably price and trade data assets under secure guidelines, digital assets could become recognized balance-sheet drivers across major Chinese industries.

Speaking at an industry gathering in southwestern China, Liu Liehong, head of the National Data Administration, declared that data has emerged as a fundamental new driving force behind enterprise competitiveness. Delivering remarks at the "DATA Night" event on August 28 during the 2026 China International Big Data Industry Expo in Guiyang, Liu underscored that successful businesses increasingly rely on data-driven capabilities to navigate rapidly shifting market conditions, according to a report by People's Daily. The event, held under the guidance of the expo organizing committee and co-hosted by People's Daily Online and Guizhou Big Data Group, provided a platform for central regulators to outline national progress in data factor governance. Liu, who also serves as a member of the Party Leadership Group of the National Development and Reform Commission, observed that extended policy experimentation has verified data's dual identity as a foundational economic resource and a catalyst for industrial innovation. According to Liu, the National Data Administration has coordinated with regional authorities and central departments to advance market-oriented allocation reforms for data elements. These joint efforts have led to what he described as a "531" implementation framework aimed at balancing digital economic expansion with baseline security requirements. While detailed operational definitions of the framework were not elaborated in his speech, the structure reflects Beijing's effort to standardize governance across regional pilot zones. Outlining upcoming priorities, Liu stated that the agency will vigorously encourage the exploitation and utilization of data resources. A major component of this strategy involves facilitating the integrated application of public data, corporate records, and other diverse data streams, supported by enhanced circulation technologies and physical digital infrastructure. Liu called on diverse economic sectors to complete the entire institutional chain governing data assets. This process spans formal rights confirmation, valuation and pricing, revenue distribution mechanisms, circulation, practical utilization, and security management. Achieving closed loops for both functional utility and commercial viability remains essential to continuously unlocking digital economic dividends, Liu noted.