China’s top leaders met on Wednesday and passed a directive aiming to set up a new fundamental data system so data can be better utilized as a key resource. Chinese President Xi Jinping addressed the meeting and emphasized that establishing a fundamental data system is key to protecting national security and personal privacy, allowing data to flow more efficiently, and supporting the real economy. Officials at the meeting also said the country will systematically clarify issues such as data property rights, data trading, and related income distribution. The meeting also passed several other directives, including one focused on payment platforms and financial technology platforms, asking them to prioritize supporting the real economy. [People’s Daily, in Chinese]