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Network and Data Security Research Center
Recommendations for Data Security Risk Governance in the Context of Digital Economy
With the continuous development and application of mobile internet, cloud computing, Internet of Things, and artificial intelligence, the world economy is accelerating its transition to a model where the digital economy is a key development direction. On one hand, the digital economy has greatly promoted economic growth, gradually becoming the main driving force for economic growth; on the other hand, it has also improved the quality of economic development, becoming an important support for the transformation and upgrading of the real economy and promoting supply-side structural reforms. While data achieves enormous economic value as a medium of exchange, the speed of cross-border data flow is increasing, and data security issues are becoming increasingly prominent. Cyberattacks, information leaks, data tampering, and data destruction incidents are becoming commonplace, severely restricting the development of the digital economy and even threatening the safety of people’s lives and property and national security. Therefore, data security is an important guarantee for the development of the data element market, and it is the foundation for promoting the legal, compliant, and orderly use of data and realizing its value. In the process of comprehensively promoting the development of the digital economy, it is essential to strengthen data security capability construction to ensure high-quality development of the digital economy with high-level security.
（1）Data security is an important guarantee for achieving high-quality development of the digital economy
With the deepening implementation of the Digital China strategy, China’s digital economy is developing rapidly. According to data released by the State Administration of Taxation, the sales revenue of China’s core digital economy industries increased by 8.7% year-on-year in 2023, an increase of 2.1 percentage points compared to 2022. The digital economy is moving towards a high-quality development stage characterized by the dual integration of physical industries and the digital economy. This requires data elements to accelerate sharing and circulation, effectively realize data value, and achieve the transformation from data resources to data elements to data assets and then to data capital. However, issues such as data ownership, valuation pricing mechanisms, circulation rules, and data security have created technical and regional barriers to data circulation. Therefore, improving data security governance and ensuring data security are important contents for building a solid digital security barrier and are essential guarantees for promoting the healthy development of the digital economy.
（2）Data security governance has become an effective means for global data resource competition
Data, as a core component of the digital economy, is crucial for shaping a country’s core competitiveness. Currently, the quantity and utilization of a country’s data resources have become one of the key elements of international competitiveness under the new situation, directly affecting the country’s economic and political influence globally. Sovereign countries are increasingly aware of the strategic value contained in data resources. To more effectively acquire data resources and enhance international competitiveness, countries around the world have incorporated data security governance into political agendas, competing to improve data security-related laws and regulations and engaging in strategic games in the field of data security to protect or seize data resources, thereby striving for more data control. At present, the global data security governance mechanism can no longer effectively coordinate the differentiated governance needs and concepts among sovereign countries, and the global data security governance system is facing a situation of multi-faceted games.
（3）National policies continue to increase, promoting the construction of data security capabilities and systems
In recent years, China has accelerated the legislative process regarding data security and strengthened the prevention of data security risks. A series of policies and regulations have been introduced, including the Cybersecurity Law, the Data Security Law, and various industry regulations such as the Information Security Technology Personal Information Security Specification and the Implementation Rules for Data Security Risk Assessment in the Industrial and Information Technology Fields (Trial). These provide guidance and reference for the standardized development of the data security industry, the technological development in the field of data security, and the deepening of applications. In January 2023, the Ministry of Industry and Information Technology and 16 other departments released the Guiding Opinions on Promoting the Development of the Data Security Industry, proposing to promote the high-quality development of the data security industry, enhance data security assurance capabilities across various industries and fields, accelerate the cultivation and value release of the data element market, and solidify the foundation for building a Digital China and developing the digital economy. In September 2024, the State Council announced the Regulations on the Management of Network Data Security, further regulating network data processing activities, ensuring network data security, and promoting the legal, reasonable, and effective utilization of network data.
（1）Data leakage incidents are becoming increasingly severe
Currently, against the backdrop of digital transformation across various industries, the data carried by the internet is becoming increasingly rich. As a new type of production factor, data can only create greater value through flow. However, with the increasing frequency of data collection, storage, transmission, and usage across industries, departments, levels, regions, systems, and businesses, while data creates greater value, issues such as important data and personal privacy information being tampered with or leaked are becoming more prominent. Data abuse and dark web transactions are rampant, posing severe threats to personal property, economic operation, public interest, and national security. Investigations show that the average cost of data breaches globally has risen to $4.88 million in 2024, a 10% year-on-year increase, setting a new historical high. With the rapid development of emerging frontier technologies such as big data, the Internet of Things, and artificial intelligence, data security risks with greater persistence and concealment have emerged, posing significant challenges to the security assurance work of the digital economy.
（2）The data sharing and transaction process needs to address the issue of transaction trust
Through continuous evolution and development, the digital economy has now entered a data-driven development stage. Data open utilization can directly monetize data as an asset, achieving data appreciation and benefits, thereby forming an important competitive advantage. However, due to the opacity of relevant data sharing and trading rules, insufficient legal and regulatory constraints, and inadequate data security protection technical measures, massive data inevitably harbors various crises during the sharing and trading process. On the one hand, the abuse of information and the resale of personal data are common, which is due to the lack of normative standards for collecting and using personal information in the data collection, circulation, and sharing processes, unclear definitions of responsibilities and rights of data users, and imperfect data security assurance systems and technical measures, leading to violations regarding the use of personal information or data abuse. On the other hand, technologies such as reverse data analysis pose greater challenges to data desensitization and cleansing. Even data products that have been desensitized and anonymized still have the potential to be associated with and analyzed to obtain original data information. Furthermore, the legality of data transactions and usage is difficult to define, hindering data circulation. In the face of prominent contradictions between data supply and demand in the market, the scale of underground data trading markets continues to grow, and violations such as the illegal collection and malicious use of personal information are becoming increasingly rampant.
（3）Data cross-border flow risks in the context of digital trade
With the development of economic globalization, international cooperation and exchanges are becoming more frequent, and the frequency of cross-border data transmission, access, and usage has significantly increased, pushing data cross-border flow beyond personal data, with governments and enterprises also having the possibility of cross-border data flow. Due to technical vulnerabilities and imperfect legislative supervision in various countries, the risks brought by cross-border data flow permeate all stages of the data lifecycle. As cross-border e-commerce and cross-border inclusive finance become more frequent, and the interaction between the virtual world and the real world strengthens, massive data continues to accumulate across various industries such as finance, energy, surveying, mapping, and communication. In the process of cross-border data flow, how to comprehensively sort, classify, and effectively supervise massive data remains a challenge. The massive scale of data and the constantly changing technical environment increase the difficulty of data classification and grading. The lack of unified data value assessment criteria and unclear judgments on the status of derivative data generated from repeated processing make it difficult to effectively predict the risks of cross-border data flow. Additionally, cross-border attacks targeting data are becoming increasingly frequent, and data obtained through cyberattacks flow into underground data trading markets in a black and gray manner, further exacerbating the risks of cross-border data flow.
（1）Strengthen the construction of data security governance mechanisms
Build a foundational system for data, integrating data security governance throughout the entire process of constructing the foundational system for data. Strengthen data security system construction at multiple levels, including national, local, and industry levels. Adapt to the requirements of digital economy development, standardize relevant laws and regulations for data circulation, sharing, and data rights and obligations, further improve the top-level design of data security systems, and promote the complementarity of top-level design and foundational systems. At the local level, focus on public data collection, sharing, development, and application, and legally introduce local regulations and government rules regarding data security. At the industry level, introduce industry-specific self-regulatory norms for data security in key information infrastructure industries such as energy, transportation, finance, and telecommunications, and promote the refinement and improvement of systems.
（2）Establish a multi-party collaborative governance system for data security
It is recommended to accelerate the establishment of a collaborative governance system for data security involving government departments, enterprises, security vendors, and social organizations to jointly ensure data security and coordinate the safe management and operation of data elements. Actively leverage the roles of government and industry associations to strengthen the organization and guidance of data security governance rules and related standards, enhance self-regulation in various industries, and promote cross-industry collaborative regulation to ensure the security of important data in key infrastructure areas. Clearly define the responsibilities of various platforms and enterprises in data security governance, implement a declaration and commitment system for data circulation and transactions, and improve data registration and disclosure systems. Establish a digital mindset to enhance individual awareness and competence in protecting their own data security, thereby reducing the risk of data leakage.
（3）Improve the risk assessment work for the flow of data security
In the era of the digital economy, frequent data security incidents necessitate data security risk assessments as an important step for enterprises to protect data security. It is also a key tool for regulatory authorities to implement their supervisory functions and a necessary procedure for all parties to fulfill their legal obligations. Encourage enterprises to actively conduct risk assessments and security certification activities for data security flow, helping them understand the overall data security situation, identify data security hazards, and determine protective strategies and preventive measures. Based on relevant laws, regulations, and industry standards, comprehensively recognize enterprise data assets, conduct data classification and grading work, and identify the compliance and risk of business data flow links. The focus of data security risk assessments should be to identify various business scenarios and the entire data flow process from a business perspective, and finally take security measures based on the assessments to reduce data security risks.
（4）Accelerate the research and promotion of data security technologies
Increase support for the research of foundational theories, frontier technologies, and key technologies related to data security, focusing on enhancing comprehensive technical capabilities, including data security products and services, and promoting the widespread application of data security technologies in various fields to strengthen data security assurance capabilities through technological innovation. Promote breakthroughs in core technologies for data security, increasing research investment and talent reserve in key frontier technology fields such as blockchain and trusted computing, and build independent innovation capabilities in related technology fields. Establish a data security product system, develop refined and specialized data security products tailored to the needs of key industries, and promote the diversification of key product supply to enhance the resilience of the industrial chain and supply chain. Explore and improve technologies related to data rights confirmation, data opening, and data trading, promoting the legal, reasonable, and effective use and orderly flow of data, and facilitating the development of the digital economy with data as a key element. Strengthen the protection of government data security and enhance the data security protection capabilities of digital public service platforms, important industry digital infrastructure, and new infrastructure.
The National Development and Reform Commission and six other departments released the “Guidelines for the Construction of the National Data Standard System”
On October 8, in order to thoroughly study and implement the spirit of the 20th National Congress of the Communist Party of China and the second and third plenary sessions of the 20th Central Committee, and to implement the requirements of the “Opinions of the Central Committee of the Communist Party of China and the State Council on Building a Data Basic System to Better Play the Role of Data Elements”, to fully leverage the role of standards in activating the potential of data elements, strengthening and optimizing the digital economy, and building a data standard system. The National Development and Reform Commission, the National Data Bureau, the Central Cyberspace Administration, the Ministry of Industry and Information Technology, the Ministry of Finance, and the National Standardization Administration organized the preparation of the “Guidelines for the Construction of the National Data Standard System”.
The General Office of the Central Committee of the Communist Party of China and the General Office of the State Council released the “Opinions on Accelerating the Development and Utilization of Public Data Resources”
On October 9, the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council released the “Opinions on Accelerating the Development and Utilization of Public Data Resources”. The main goals are: by 2025, the development and utilization system rules for public data resources will be initially established, the scale and quality of resource supply will be significantly improved, data products and services will continue to diversify, and significant results will be achieved in the development and utilization of public data resources in key industries and regions, cultivating a batch of data element-type enterprises, and initially realizing the role of public data resources as elements. By 2030, the development and utilization system rules for public data resources will be more mature, the resource development and utilization system will be fully established, data circulation and usage will be compliant and efficient, and the role of public data in empowering the real economy, expanding consumption demand, broadening investment space, and enhancing governance capacity will be fully realized.
The National Data Bureau publicly solicited opinions on the “Action Plan for the Development of Trusted Data Spaces (2024-2028)”
On October 18, in order to implement the decisions and deployments of the third plenary session of the 20th National Congress of the Communist Party of China, guide and support the development of trusted data spaces, promote the compliant and efficient circulation and utilization of data elements, and accelerate the construction of a digital economy with data as a key element, the National Data Bureau drafted the “Action Plan for the Development of Trusted Data Spaces (2024-2028)” and is now publicly soliciting opinions.
The Ministry of Agriculture and Rural Affairs released the “National Smart Agriculture Action Plan (2024-2028)”
On October 25, the Ministry of Agriculture and Rural Affairs released the “National Smart Agriculture Action Plan (2024-2028)” (hereinafter referred to as the “Action Plan”). The “Action Plan” proposes that by 2024, the comprehensive upgrade of smart agriculture public service capabilities, the expansion of applications in key areas of smart agriculture, and the demonstration-driven approach will be initiated. By the end of 2026, the public service capabilities of smart agriculture will be initially formed, exploring intelligent solutions for significantly improving the yield of major crops and smart agricultural (planting, breeding, and fishing) technology models, with the informatization rate of agricultural production reaching over 30%. By the end of 2028, the public service capabilities of smart agriculture will be significantly improved, the role of information technology in reducing costs and increasing efficiency for grain and oil crops and important agricultural products will be fully realized, and the digital transformation of the entire agricultural industry chain in pilot areas will be basically achieved, with the mechanism and path for promoting smart agriculture construction maturing.
The Ministry of Agriculture and Rural Affairs issued the “Guiding Opinions on Vigorously Developing Smart Agriculture”
On October 25, the Ministry of Agriculture and Rural Affairs issued the “Guiding Opinions on Vigorously Developing Smart Agriculture” (hereinafter referred to as the “Guiding Opinions”). The “Guiding Opinions” propose that by 2030, significant progress will be made in the development of smart agriculture, major breakthroughs will be achieved in key core technologies, a standard system and testing system will be basically established, and advanced and reliable domestic technology and equipment will be widely applied. Major breakthroughs will be achieved in the promotion and application of key areas, important links, and key segments, effectively enhancing agricultural land output, labor productivity, and resource utilization, and significantly improving the digital and intelligent level of industry management services. The informatization rate of agricultural production is expected to reach around 35%. Looking ahead to 2035, decisive progress will be made in smart agriculture, comprehensive breakthroughs will be achieved in key core technologies, and technology and equipment will reach internationally advanced levels, achieving digital transformation across the entire agricultural sector and raising the informatization rate of agricultural production to over 40%, providing strong information support for building a strong agricultural country.
The Xiamen Data Management Bureau released the guidelines for applying for and redeeming computing power vouchers in 2024
On September 26, to implement the “Several Measures to Promote the Development of the Artificial Intelligence Industry in Xiamen” and the “Notice of the General Office of the Xiamen Municipal People’s Government on Accelerating the Development and Application of Intelligent Computing Power”, the Xiamen Data Management Bureau plans to provide computing power subsidies in the form of “computing power vouchers” and released the guidelines for application and redemption.
The Chongqing Municipal People’s Government Office released the “Chongqing Future Industry Cultivation Action Plan (2024-2027)”
On September 30, the “Chongqing Future Industry Cultivation Action Plan (2024-2027)” was officially released, proposing to prioritize the development of six high-growth future industries, namely aerospace information, biomanufacturing, advanced new materials, hydrogen energy and nuclear energy, artificial intelligence, and low-altitude economy, and to explore the development of three high-potential future industries, including brain-computer interfaces and brain science, photonics and quantum technology, and immersive technology.
The Ningbo Economic Bureau and the Ningbo Finance Bureau released the “Special Policy Opinions on Promoting the High-Quality Development of the Software Industry in Ningbo”
On October 8, the “Special Policy Opinions on Promoting the High-Quality Development of the Software Industry in Ningbo” were officially released, clarifying that the key development direction of Ningbo’s software industry is to focus on basic and industrial software, iteratively upgrade characteristic industry application software, and proactively layout emerging technology software. Support will be provided to enterprises in key areas of software and information technology services, and comprehensive support will be offered in areas such as industry development, technology research and development, integration applications, financial support, and talent services for software enterprises included in the city’s “Famous Enterprises” list.
The Shanghai Science and Technology Commission and four other departments released the revised “Management Measures for R&D and Transformation Functional Platforms in Shanghai”
On October 12, the Shanghai Science and Technology Commission and four other departments released the revised “Management Measures for R&D and Transformation Functional Platforms in Shanghai” (hereinafter referred to as the “Measures”), which again mention integrated circuits. The “Measures” propose that, facing the innovation and development needs of integrated circuits, artificial intelligence, biomedicine, new materials, and advanced manufacturing industries in the city, a number of functional platforms with strong service support capabilities, new operational mechanisms, and strong industrial influence and regional radiation will be established, forming a technical service supply for the R&D and transformation processes of various links in the industrial chain, enhancing the innovation capability of key industries and regions, and supporting the construction of a globally influential technological innovation center.
The Jiaxing Municipal People’s Government Office released the “Implementation Plan for Promoting the High-Quality Development of Artificial Intelligence in Jiaxing”
On October 18, the Jiaxing Municipal People’s Government Office released the “Implementation Plan for Promoting the High-Quality Development of Artificial Intelligence in Jiaxing”, proposing that by 2027, the revenue scale of the artificial intelligence industry will exceed 100 billion yuan, cultivating 50 “specialized, sophisticated, and innovative” small giant enterprises, introducing three industry vertical models with national influence, creating 20 typical application scenarios, and implementing 150 key core technology breakthroughs, with computing power scale exceeding 100 EFlops, building the Yangtze River Delta Intelligent Computing Center, the Yangtze River Delta Computing Power Industry Gathering Area, and the Yangtze River Delta Computing Power Application Innovation Area, accelerating the construction of a strong city for computing power industry and an innovation highland for artificial intelligence applications.
The Guangdong Provincial People’s Government Office released the “Action Plan for Accelerating the Innovative Development of the Optical Chip Industry in Guangdong Province (2024-2030)”
On October 21, the Guangdong Provincial People’s Government Office released the “Action Plan for Accelerating the Innovative Development of the Optical Chip Industry in Guangdong Province (2024-2030)”. The plan aims to accelerate the cultivation and development of the optical chip industry, striving to achieve breakthroughs in more than 10 key core technologies in the optical chip field by 2030, create more than 10 “star” products, cultivate more than 10 internationally competitive leading enterprises, build about 10 national and provincial innovation platforms, and form a new trillion-level industrial cluster.
The “Action Plan for Vigorously Cultivating the Electronic Equipment Manufacturing Industry in Jiangxi Province (2024-2026)”
On October 24, the Jiangxi Provincial Industrial Strong Province Construction Work Leading Group released the “Action Plan for Vigorously Cultivating the Electronic Equipment Manufacturing Industry in Jiangxi Province (2024-2026)”. This plan aims to deeply implement the “1269” action plan for modernizing key industrial chains in Jiangxi Province and the “Guiding Opinions on Vigorously Developing Characteristic Equipment Manufacturing” to enhance the supporting capacity of electronic equipment manufacturing for the electronic information industry, improve the resilience, competitiveness, and safety level of the electronic information industry chain supply chain, and promote the high-quality development of the electronic equipment manufacturing industry in the province.
Investment Trends
Jingchi Machinery, a silicon carbide equipment manufacturer, completes tens of millions in its first round of financing
On October 7, according to the official WeChat account of Hangzhou Jingchi Machinery Technology Co., Ltd. (hereinafter referred to as Jingchi Machinery), the company recently completed tens of millions in its first round of financing, led by Hebei Zhengmao Industrial Investment Co., Ltd. (Zhengding County Government Industrial Investment Fund). Jingchi Machinery stated that this financing will help promote its research and market promotion of third and fourth generation semiconductor material equipment, enhancing its competitiveness in the domestic third and fourth generation semiconductor equipment industry. Official WeChat account information shows that Jingchi Machinery was established in July 2021, with its headquarters and R&D center located in the Hangzhou International Innovation Center of Zhejiang University, focusing on the R&D, production, sales, and application promotion of third and fourth generation semiconductor material equipment such as silicon carbide, diamond, and aluminum nitride.
Sorchin Technology acquires WIPL-D software source code
On October 9, it was reported that Shanghai Sorchin Information Technology Co., Ltd. formally signed a contract with WIPL-D d.o.o. to acquire the entire source code of the WIPL-D software product, becoming the sole owner of the WIPL-D software product in the Asia-Pacific region. WIPL-D is a three-dimensional full-wave electromagnetic simulation design product suite developed based on the Higher Order Method (HOMOM). After nearly 30 years of development, WIPL-D has become one of the preferred tools for three-dimensional electromagnetic simulation design, widely used in various fields such as aerospace, shipbuilding, power, electronics, semiconductors, computers, and communications due to its extreme simulation accuracy and reliability, fast simulation speed, user-friendly interface, and stable and mature adaptive mesh refinement technology. Through this acquisition, Sorchin’s electromagnetic simulation software will be enhanced, covering multiple full-wave calculation methods including time-domain finite difference method, finite element method, and higher-order moment method.
Yizhu Technology announces completion of several billion yuan financing
On October 12, Yizhu Technology announced the completion of several billion yuan financing. The financing was led by well-known overseas funds, with participation from Shengshi Technology, Xingzhi Capital, and co-founders of a well-known overseas GPU company. Yizhu Technology is committed to breaking and reducing the “storage wall”, “energy consumption wall”, and “compilation wall” through architectural innovation, actively developing products for scenarios such as data centers, AI cloud computing, and AI servers on the central side, providing the industry with new generation AI computing power chips and system solutions that are “easy to use and low cost”.
Domestic pathology AI company 91360 announces successful completion of a new round of financing
On October 14, domestic pathology AI company 91360 announced the successful completion of a new round of financing. This round of financing was led by Ivy Capital, with participation from the state-owned investment in Hangzhou Gongshu District. This financing will assist 91360 in promoting its overall solution for cervical cytology AI-assisted diagnosis, as well as the continuous development of digital pathology solutions, remote consultation platforms, and innovative business. 91360 is committed to deeply integrating advanced AI pathology diagnosis technology with internet technology, continuously innovating, and independently developing multiple professional pathology software products.
Juntong Future announces completion of several million angel round financing, aiding a new phase of AI risk governance
On October 16, Hangzhou Juntong Future Technology Co., Ltd. (hereinafter referred to as Juntong Future) announced the successful completion of several million yuan angel round financing. This financing was jointly invested by Delian Capital, Linghui Venture Capital, and several other institutions, with Hangxing Capital serving as the exclusive financial advisor.
Xingdong Era completes nearly 300 million yuan Pre-A round financing
On October 16, Beijing Xingdong Era Technology Co., Ltd. completed nearly 300 million yuan Pre-A round financing. This round of investment was led by Qingliu Capital, Yuanzheng Capital, and Alibaba, with participation from Ciyuan Capital, and existing shareholders including Lenovo Venture Capital, Century Jin Yuan, Jinding Capital, Zeyu Capital, and Qingkong Tiancheng continuing to invest. Huaxing Capital continues to serve as the exclusive financial advisor for this round. This round of financing will mainly accelerate the original breakthrough research and development of embodied intelligent technology and the commercialization process of general humanoid robots. The company was incubated by the Cross-Information Research Institute of Tsinghua University, focusing on the research and development of embodied intelligence and general humanoid robot technology and products, creating original robot models and a new hardware platform defined by AI.
Wangsi Technology announces completion of A+ round financing exclusively invested by Paradigm Fund
On October 21, Wangsi Technology announced the completion of A+ round financing exclusively invested by Paradigm Fund, with total financing exceeding 100 million yuan. Wangsi Technology, established in 2017, is a digital solution provider that has developed an AI large model management platform, including data management, fine-tuning training, inference deployment, application development, and service scheduling, utilizing intelligent agents and retrieval-enhanced generation technologies and development tools, combined with industry knowledge to quickly build large model applications in marketing, operations, and office fields, achieving automated and intelligent high-efficiency operations.
The Jiangcheng Industrial Investment Fund with a scale of 12 billion yuan was officially established in Wuhan
On October 21, the Jiangcheng Industrial Investment Fund (hereinafter referred to as the “Jiangcheng Fund”) with a scale of 12 billion yuan was officially established in Wuhan. The newly formed Jiangcheng Fund mainly consists of existing equity assets and cash injections from the fiscal budget. According to the “Implementation Opinions of the Wuhan Municipal People’s Government on Promoting the High-Quality Development of Industrial Funds and Accelerating the Construction of a Modern Industrial System”, starting from 2024, the municipal fiscal budget will allocate a certain amount of industrial fund budget to the Jiangcheng Fund each year, aiming to scale up to 50 billion yuan in 3-5 years, driving an industrial cluster of 100 billion yuan, and financially empowering over 300 billion yuan, forming a full lifecycle fund layout from seed stage, startup stage, growth stage, to maturity stage.
Wangsi Technology completes A+ round financing worth over 100 million yuan
On October 21, Wangsi Technology Co., Ltd. completed A+ round financing worth over 100 million yuan, exclusively invested by Paradigm Fund. The AI large model management platform (MaaS) developed by Wangsi Technology includes data management, fine-tuning training, inference deployment, application development, and service scheduling, utilizing intelligent agents (AI Agent) and retrieval-enhanced generation (RAG) technologies and development tools, combined with industry knowledge to quickly build large model applications in marketing, operations, and office fields, achieving automated and intelligent high-efficiency operations.
Beilian Zhuguan completes Pre-A round financing worth several tens of millions
On October 23, Beilian Zhuguan Technology (Zhejiang) Co., Ltd. completed Pre-A round financing worth several tens of millions. This round of financing was led by Jiangmen Venture Capital and Xihu Science and Technology Venture Capital, with existing shareholder Yuanzheng Capital participating. Beilian Zhuguan was established in 2021 and began developing AI products in the field of Sky AI in September 2023, helping customers create private large models based on private data and business scenarios, and providing online inference services for private large models to help customers deploy and maintain online inference services, ensuring stability and reducing costs of AI inference while maintaining low latency.
Gallium Ray Optics announces completion of several million angel round financing
On October 24, Gallium Ray Optics announced the completion of several million angel round financing, led by industrial capital, with Huatai Zijin’s Suzhou Huatai Huaxin Taihu Photonics Industry Investment Fund Partnership (limited partnership) participating. Gallium Ray Optics, established in May 2023, is an IDM enterprise focused on GaN-based laser chips. Its main products include GaN-based laser chips and devices, covering wavelengths from ultraviolet to green light.
Shensi Technology completes a new round of financing led by Tongchuang Weiye
Recently, Shensi Technology (Anhui) Co., Ltd. announced the completion of A round financing led by Tongchuang Weiye. This round of financing will mainly be used for new product research and development, new production line construction, and market promotion. Shensi Technology, established in 2021, focuses on current sensors and position sensors, applied in the automotive, new energy, energy storage, and industrial automation sectors. The company has nearly 10 automotive-grade products in mass production and more than a dozen innovative products under development.
Beifang Experiment: Announces listing on the New Third Board Innovation Layer, with a total of 75,000,000 shares listed
Beifang Laboratory (Shenyang) Co., Ltd. is an information technology service provider whose main business is network security services and information technology consulting services. It relies on independently developed key core technologies such as intelligent penetration attacks and host attack monitoring and early warning, mainly engaging in network security detection and evaluation, network security consulting, network security operations, information system engineering supervision, and information system consulting design services.
Niujiaodun Data: Announces completion of a new round of equity financing, amount undisclosed
Jiangsu Niujiaodun Data Technology Co., Ltd. announced Pre-A round financing, with the financing amount undisclosed, with participation from Changgao New Group. Niujiaodun Data is an enterprise data security service provider. Its products in the field of data security include protection against data leakage from networks, terminals, emails, and storage, as well as database security, widely applied in government, telecommunications, electricity, oil and petrochemicals, rail transit, and intelligent manufacturing industries.
Cutting-edge Technologies
NVIDIA emphasizes that its computing lithography platform named cuLitho has been put into production at TSMC
On October 8, AI chip giant NVIDIA emphasized the achievements in accelerating cooperation with TSMC in the computing field: its computing lithography platform named cuLitho is now in production at TSMC. NVIDIA stated that cuLitho will accelerate the introduction of computing into the field of lithography, and its production will enable TSMC to accelerate the development of next-generation chip technologies, as the current production process approaches the limits of physics. Using cuLitho for production can enhance the speed of manufacturing next-generation advanced semiconductor chips and break through physical limitations. NVIDIA cuLitho is used for GPU-accelerated computing lithography and semiconductor manufacturing processes, containing libraries of optimized tools and algorithms that are several orders of magnitude faster than current CPU-based methods.
China National Offshore Oil Corporation launches the “Haineng” AI model
On October 15, China National Offshore Oil Corporation collaborated with China Telecom, iFlytek, and other enterprises to launch the AI model named “Haineng”. This model relies on massive data resources, integrating existing models while taking into account both professional and general scenarios. The professional scenario model is designed for offshore oilfield steady production increase, safe drilling, marine manufacturing, equipment maintenance, LNG trading, and oil and gas sales, constructing a new data-driven and business-coordinated model. The general scenario model offers intelligent applications to meet needs such as bidding procurement, employee health, and office assistance, aimed at enhancing business management and office efficiency.
Chinese quantum computer successfully cracks RSA encryption algorithm
On October 16, Chinese researchers successfully cracked a classical encryption algorithm using the D-Wave quantum annealing system. This breakthrough may accelerate the timeline for quantum computers to pose a real threat to widely used encryption systems. The research results were published in the domestic journal “Computer Journal”, with the paper titled “Research on Quantum Annealing Public Key Password Attack Algorithm Based on D-Wave Advantage”. The research team detailed how to use the D-Wave machine to crack RSA encryption and launch attacks on symmetric encryption systems.
The first clinical ophthalmology large model “Fuxi Huayan” is released
On October 17, the first clinical ophthalmology large model—VisionFM (“Fuxi Huayan”) was released. “Fuxi Huayan” aggregates 340 million eye images from 560,000 individuals across 26 countries and regions, making it the largest eye image database globally. This model was developed by a team of professors from the Henan Medical Sciences Academy in collaboration with over 30 research institutions. It has capabilities for screening and diagnosing ophthalmic diseases, predicting disease trends, and can gradually expand from ophthalmology to chronic disease prevention and control in cardiovascular, respiratory, metabolic, and tumor fields, creating a comprehensive and multi-layered health management system that accurately predicts physiological indicators of the whole body.
Volcano Engine releases the industry’s first large model IT empowerment platform
On October 17, Volcano Engine released the industry’s first large model IT empowerment platform, which integrates the Doubao large model through an All-in-One product architecture that consolidates core IT elements such as identity, network, terminals, and data to enhance enterprise IT management efficiency and employee office experience. The product leader of Volcano Engine stated that Feilian’s AI capabilities can help enterprises build the IT infrastructure needed for the AI era, balancing security and experience, implementing enterprise management systems, and addressing most security and IT issues through natural language dialogue.
The “Native Harmony” HarmonyOS NEXT official version is released
On October 22, the official version of “Native Harmony” HarmonyOS NEXT was released. Native Harmony (pure blood Harmony) is China’s first fully self-developed operating system, marking a breakthrough in China’s operating system field. Currently, the HarmonyOS code exceeds 110 million lines, and its market share in China has surpassed iOS, ranking second, with over 15,000 native Harmony applications and services launched, covering 18 vertical fields. Native Harmony achieves full-stack self-development from the inside out and does not need to be compatible with Android application software, significantly improving the system’s smoothness, performance, and security features.
CATL launches the world’s first battery product with a pure electric range of over 400 kilometers and 4C supercharging
On October 24, CATL released the world’s first battery product—Xiaoyao Super Mixed Battery, with a pure electric range of over 400 kilometers and 4C supercharging capability, fully opening the era of mixed “large capacity”. Currently, the Xiaoyao battery has successfully been adopted by several vehicle brands including Li Auto, Avita, Deep Blue, Qiyuan, and Nezha. By 2025, nearly 30 mixed models, including those from Geely, Chery, GAC, and Lantu, are expected to be equipped with CATL’s Xiaoyao Super Mixed Battery.
The first brain-like computing power open platform is launched in Hengqin
On October 24, the “New Generation Brain-like Artificial Intelligence Public Computing Power Open Innovation Platform” built by the Guangdong Intelligent Science and Technology Research Institute, approved by the Ministry of Science and Technology, was officially launched in the Hengqin Guangdong-Macao Deep Cooperation Zone. This platform focuses on brain-like chip design innovation, brain-like application ecological innovation, and major applications in brain science, building a high-level brain-like computing technology innovation team and software and hardware systems, providing solid support for China’s smart technology industry to gain an active position in global technological competition and develop the “new quality productivity” of the smart era.
G.Skill International launches the new Trident Z5 CK series CU-DIMM DDR5 memory
On October 24, G.Skill International launched the new flagship Trident Z5 CK and Trident Z5 CK RGB series CU-DIMM overclocking memory kits. Each Trident Z5 CK module is equipped with a high-performance Clock Driver (CKD) chip, enhancing the stability of memory modules under high-speed operation. The entire series starts from DDR5-8000 and goes up to DDR5-9600 (Gear 4) ultra-fast kits, with the DDR5-9600 kit already listed on North America’s Newegg. The Trident Z5 CK and Trident Z5 CK RGB series CU-DIMM are the next generation desktop DDR5 memory, and compared to standard DDR5 memory, CU-DIMM adds the Clock Driver (CKD) clock drive chip, which mainly functions to convert and distribute the clock signal provided by the CPU to each DRAM IC in the memory module, ensuring that each memory component transmits data at the correct time point, enhancing stability.
China National Nuclear Corporation announces successful mass production of the world’s first X/γ nuclear radiation dose detection chip
On October 25, China National Nuclear Corporation announced the successful mass production of the world’s first X/γ nuclear radiation dose detection chip, developed by the Nuclear Safety and Environmental Engineering Research Institute of the China National Nuclear Corporation. This chip can detect X/γ radiation dose rates ranging from 100 nSv/h (nanosiwer per hour) to 10 mSv/h (millisievert per hour), with a detectable energy range of 50 keV (kiloelectronvolt) to 2 MeV (megaelectronvolt), and its size is only 15mm×15mm×3mm, capable of operating in a temperature range of -20°C to 50°C, while also possessing ultra-low power consumption of 1 mW (milliwatt). Despite its compact size, this chip’s sensitivity is comparable to that of conventional environmental measurement Geiger-Müller counters. Users can easily apply it to nuclear-related workplaces, personnel, and environmental radiation dose monitoring scenarios based on the chip’s data manual. The chip adopts a standardized interface design, making it a universal radiation sensor device, suitable for reflow soldering, and can be quickly integrated into mobile phones, tablets, smart helmets, drones, and other intelligent equipment, enabling the development of intelligent terminal products with radiation detection capabilities.
Industry Operations
In the first three quarters of 2024, China’s electronic information manufacturing industry showed steady production growth, with the added value of above-scale electronic information manufacturing industry increasing by 12.8% year-on-year. In September, the added value of above-scale electronic information manufacturing industry increased by 10.6% year-on-year. In the first three quarters, among major products, the output of mobile phones reached 1.184 billion units, a year-on-year increase of 9.8%, with smart phones accounting for 873 million units, a year-on-year increase of 10.5%; the output of microcomputers reached 249 million units, a year-on-year increase of 2.9%; the output of integrated circuits reached 315.6 billion pieces, a year-on-year increase of 26%.
In the first three quarters of 2024, China’s software and information service industry showed a good operational status, with software business revenue reaching 98.281 billion yuan, a year-on-year increase of 10.8%. In terms of segmented fields, the software product revenue reached 22.213 billion yuan, a year-on-year increase of 8.0%, accounting for 22.6% of the total industry revenue; information technology service revenue reached 66.164 billion yuan, a year-on-year increase of 11.9%, accounting for 67.3% of the total industry revenue; information security and embedded system software revenue reached 15.02 billion yuan and 84.03 billion yuan, respectively. From a regional operational perspective, the eastern region leads in revenue scale, while the central region shows outstanding revenue growth.
In the first three quarters of 2024, the overall operation of the telecommunications industry remained stable, with all major indicators within a reasonable range. Among them, the cumulative telecom business revenue reached 1.3152 trillion yuan, a year-on-year increase of 2.6%. The total telecom business volume calculated at constant prices from the previous year increased by 10.7% year-on-year. In terms of segmented services, emerging businesses achieved a total revenue of 325.2 billion yuan in the first three quarters, a year-on-year increase of 9.4%, accounting for 24.7% of the telecom business revenue, contributing 2.2 percentage points to the growth of telecom business revenue. Among them, revenue from cloud computing and big data increased by 9.4% and 61.8% year-on-year, respectively, and revenue from Internet of Things business increased by 13% year-on-year.
In the first three quarters of 2024, China’s internet and internet business revenue continued to grow, with above-scale internet and related service enterprises completing internet business revenue of 1.2703 trillion yuan, a year-on-year increase of 2.7%, with growth rate falling by 1.7 percentage points compared to January-August. In terms of segmented fields, the revenue growth rate of enterprises in the information service sector remained stable, while enterprises in the life service sector experienced a decline. From a regional operational perspective, the internet business revenue growth rate in the central and western regions was relatively fast, while the internet business revenue in the Beijing-Tianjin-Hebei region grew steadily. The central region completed internet business revenue of 57.71 billion yuan, a year-on-year increase of 6.4%, higher than the national growth rate of 3.7 percentage points. The western region completed internet business revenue of 77.72 billion yuan, a year-on-year increase of 10%.
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