The National Data Administration said on Wednesday it is working with the State-owned Assets Supervision and Administration Commission of the State Council to formulate an action plan to enhance the data efficiency of the State-owned enterprises.

The administration is stepping up efforts to bolster innovation in the data management mechanism of State-owned enterprises, and reinforce the role of data in empowering modern corporate governance and digital transformation, said Chen Ronghui, deputy head of the NDA, at a news conference in Beijing.

Chen urged efforts to guide the digital technology companies affiliated with the centrally administered State-owned enterprises to integrate industry data resources and expand the supply of high-quality data products and services.

According to him, the NDA will promote leading enterprises in key industries such as energy power, transportation and logistics, satellite remote sensing and new materials to join hands with upstream and downstream enterprises to establish open and interconnected industrial trusted data spaces.

More efforts will be made to explore a mechanism with multi-party participation concerning the development and revenue distribution of data products, facilitate the efficient circulation and utilization of corporate data resources, as well as guide centrally administered SOEs to put data assets into the balance sheets of enterprises, he added.

He also stressed the importance of centrally administered SOEs in exploring the transformation and upgrading of industries by leveraging data, cultivating new quality productive forces, and bolstering the development and utilization of corporate data resources.

China unveiled guidelines on promoting the development and utilization of corporate data resources in December, as part of its broader push to fully unleash the value of data elements and bolster the high-quality development of digital economy.