At present, few jurisdictions have specified the ownership of data property, and BigTechs have de facto control over data. It is necessary to clarify data rights of different parties soon, and improve data flow and pricing mechanism. It is also important to fully and fairly utilize data, and protect the lawful interests of all players. Fifthly, strengthening international coordination for cross-border data flow.
China has recently put forward the Global Data Security Initiative, calling for respect of sovereignty, jurisdiction and data security management rights. It is a basic principle to balance development and security. And we will enhance cross-border coordination to jointly promote a more open, fair and nondiscriminatory business environment. Ladies and gentlemen, The booming digital economy connects us more closely than ever before.