Highlights of 2017 China International Big Data Expo unveiled
The first session of China International Big Data Expo will be jointly hosted by the National Development and Reform Commission (NDRC), the Ministry of Industry and Information Technology (MIIT), the Cyberspace Administration of China and the people’s government of Guizhou province in Guiyang, capital of Guizhou on May 26-29.
Journalist learnt from the organizing committee that 55 sub-forums will be held with the 3rd China High Level Forum on Big-data Securities as its core part.
There will be six highlights on the Expo.
Firstly, the Expo might direct future development of the Internet and big data industries represented by fields like “block chain”, “machine intelligence”, “artificial intelligence (AI)”, “intelligent manufacturing” and “big data standardization”.
Secondly, well-known entrepreneurs and media professionals like Alibaba Chairman Jack Ma, Tencent Chairman Pony Ma, Qi Xiangdong, chairman of 360 Business Security Group, Sun Pishu, chairman and CEO of Inspur, Yang Lan, a TV anchor and chairwoman of Sun Media Group will gather together on the Expo. Other attendees from famous companies like Bob Puglielli, general manager of GSMA, Qualcomm President Derek Aberle, Hu Wei, vice-president at Oracle in charge of R&D, Neil Mendelson, vice-president at Oracle in charge of R&D, and Huang Chenhong, president of Dell Greater China have confirmed their attendance.
Thirdly, most advanced technologies like virtual reality (VR), augmented reality (AR) and AI will set experience pavilions to provide wearable experience equipment and terminal experience.
Fourthly, new technologies, products and fruits impacting and changing people’s way of life, thinking, production and business models will be displayed on the Expo.
Fifthly, the Internet and big data bring many changes to people’s life. Multiple enterprises attending the Expo will display new things like intelligent tourism, smart home and intelligent city.
Sixthly, 2017 China International Big Data Mining Competition will be held during the Expo. Projects and teams winning prizes in the competition will share a reward of 4 million yuan.
Development status of big data in China
China will build an integrated national big data center.
Zhang Feng, chief engineer of the MIIT, said on May 17 that China will build an integrated national big data center to promote the opening of public data and the trans-department/region sharing of basic data resources, improve efficiency of data application and use value, step up security supervision, crack down illegal leakage and selling of individual data, and safeguard network data.
Zhang shared the information at an MIIT conference to mark World Telecommunication and Information Society Day on May 17, with "Big Data for Big Impact" as this year's theme, according to the Xinhua News Agency.
Big data is an integrated product of internet information technology and other economic and social technology. It will have a revolutionary impact on the Internet ecology, innovation system, industrial structure and social governance structure. With the popularity of information technology, people begin to discover, know and explore big data. It becomes a great concern to improve the value of big data, expand big data resources and maintain the security of big data.
Research shows that the total volume of data in China is growing at an average annual rate of over 50 percent, and its proportion in the world is expected to reach 21 percent by 2020. New forms of industry continue to emerge, creating a large number of new technologies and new applications, such as personalized, customized and intelligent health care and intelligent transportation.
However, the big data industry is also faced with several problems. For example, there is a low degree of resource opening and sharing. The value of data is difficult to be effectively found. The security of data needs to be strengthened.
Zhang Feng said that the MIIT will promote the opening of public data and the sharing of basic data resources across sectors and regions, first promote the opening of credit, transportation, health care, health and employment and data open, formulate the development roadmap for industrial data, promote the integration of big data and the manufacturing industry, strengthen security protection in the collection, storage, application and open of data resources and promote the introduction of management rules on telecommunications and Internet data.
Investment opportunities for A-share investors
Views from securities companies
Guangzheng Hang Seng Securities: data is expected to become a strategic resource in the information age. A survey conducted by the China Academy of Information and Communications Technology (CAICT) in 2017 shows that 59.2 percent of the surveyed enterprises have set up departments for data analysis. 35.1% percent of them have applied big data. Meanwhile, the MIIT issued the development plan for big data development on January 17, 2017. It clearly defines the development goals, key tasks and security mechanisms of the big data industry. As industry policies are gradually landing, we are still optimistic about the development of the big data industry in the second half of 2017 and suggest paying attention to MeritData.
GF Securities: the development of big data in China's market is still in early stages. There is a large room for improvement in data sources and data application. The industry will develop in two directions. Firstly, enterprises in the comprehensive data resource link will gradually open. On the premise that the laws and regulations on the ownership, privacy, the right to use of data are gradually improved, data resource can open at the maximum degree. Secondly, there might be investment opportunities in the downstream industry (especially industrial/commercial data). Tool manufacturers that have close partnership with these industries will be more valuable.
Translated by Jennifer Lu and Coral Zhong
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