According to reports, the meeting will be held next week.
Tips
register
Standard journalistic opener. Use 据 + source: 据新华社报道 'Xinhua reports', 据央视报道 'CCTV reports', 据外媒报道 'foreign media report.' Compare 据说 'it is said' (much more colloquial, hearsay) and 据悉 'it is learned' (formal newsroom register).
grammar
Sentence-initial topicalizer, comma-set off, no subject needed. The verb after 据 is what is being relied on (报道 'reports'); think 'on the basis of [reports]'.
