Though Chinese enterprises are stepping up their efforts to unlock the full potential of big data, a treasured asset, they are still struggling to come up with the right business models.

"The most difficult part for developing big data businesses in China is how to monetize it," said Lei Jun, CEO and founder of Chinese handset maker Xiaomi Corp.

"Currently, we are facing huge financial burden, given the heavy investments needed to ensure its sustainable development," Lei said at the opening ceremony of an international big data summit in Guiyang, capital of Guizhou province.