tal transformation”, there is already a victory sign coming fro

The country generated about 7.6ZB data last year, around 0.7ZB more than the US, the report said.

In addition, it said data created and replicated in China is expected to outpace the global average by 3 percent annually.

Chinese tech companies, such as Alibaba Group and Tencent Holdings Ltd, h

ave set an example in using data to improve customer service in the financial sector.

The report said Chinese digital payment platforms Alipay and WeChat Pay are able to provide personalize

d financial services tailored to customers’ specific behaviors and preferences with the help of massive user data.

The report also mentioned the use of personal information has raised concerns as data may be utilized to build beh

aving or responding models of users that can be taken advantage of by advertisers or for other purposes.

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