Prospects look bright for China's big data industry, as the Central government vowed to establish a more transparent and equal playing field that will attract increased foreign investments into the sector.

According to Premier Li Keqiang, China aims to bring in big data and e-commerce players from across the globe by implementing a more responsive and streamlined administration process, reported the China Daily.

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"Industries related to big data and e-commerce are booming in China with great growth potential, and enterprises from all countries are welcome to invest in these sectors," Li said in his remarks at the opening ceremony of the China Big Data Industry Summit in Guiyang, Guizhou province.

The summit was attended by stakeholders in China's big data industry, which included Chinese and multinational companies, including computer maker Dell Inc. and SAP, a German-based multinational corporation that develops  various operations and customer relations software.

Li stressed that the national government is implementing a series of reforms that are designed to establish a nondiscriminatory business environment for all local and international enterprises registered in the country.

The Chinese government currently generates around 80 percent of the data and information produced in China.

This has created the need  for the Central government to share more information to the public regarding its programs and projects, as well as provide information in the areas of national security and business activities.

"By doing this, the government can create a market for fair competition while integrating with the internet and big data to streamline administration," the premier explained.

While at the summit, Li also talked with business leaders, as he welcomed increased foreign investments in China's big data industry, particularly in the nation's central and western regions.

He noted that there is still a disparity in the pace of development between eastern and inland regions, a concern that can be addressed as there is great potential for economic growth and investment in both areas.

Li likewise assured investors that the Chinese government will focus on the protection of intellectual property rights, promote respect for trade secrets, and enhance cybersecurity, key measures that will ensure the continued growth of China's big data industry in the coming years.

Tagschina, China Big Data Industry, Chinese Premier Li Keqiang