China's data production and storage capacity continue to grow rapidly, and the scale of its data resources remains the second-highest globally, Liu Liehong, head of the National Data Administration, said on Thursday.

Data products are increasingly abundant in such fields as finance, transportation, telecommunication, and industry and commerce, and the number of products listed on major stock exchanges has exceeded 13,000, Liu said at the launch ceremony of a national data development and utilization contest in Hefei, Anhui Province.

The nation's digital economy has boomed in recent years, and its total amount of data has expanded rapidly, laying a solid foundation to unleash the multiplier effect of data, he said.

The contest, the first of its kind, will continue throughout the year and include multiple local competitions, culminating in a national final.

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