Jiangsu Province establishes a Data Group to promote data marketization.

The Jiangsu Provincial Government has invested 3 billion yuan to establish a Data Group, aiming to integrate resources and promote the marketization of data. The Group will operate public data, consolidate industry data, and build a data trading platform. The goal is to apply data value in fields such as finance and transportation, to foster the integration of digital technology with the real economy, and to participate in the construction of digital government and smart cities. This move aligns with the national digital economy development strategy, and similar institutions have been established in multiple regions to promote the development of the data element market.

The goal in Jiangsu is to have digital RMB accounts basically cover large industrial enterprises by 2025.