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China to advance cultivation of data elements market, fundamental data systems

( April 11, 2022, 04:02 GMT | Official Statement) -- MLex Summary: China has vowed to advance the cultivation of the so-called “data elements market", a marketplace designated for enhanced trading, flow, and use of data, according to an opinion issued yesterday by the central government on speeding up the establishment of a unified market nationwide. The government will also establish and improve fundamental systems, standards, and rules relating to data security, rights protection, cross-border transfers and management, trading and circulation, opening up and sharing, as well as security certification. It will advance the drafting of national standards and security rules relating to facial recognition, finger vein recognition and iris recognition. Additionally, it will issue a national catalog of credit information, as part of efforts to establish a network of credit information covering all credit subjects and credit information categories.The excerpts of the statement, in Chinese, follows: ...

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