Data sharing in the cloud, fueled by favorable cloud technology trends, has emerging as a promising pattern in regard to enabling data more accessible to users in a convenient manner. To achieve data sharing, enterprises and customers in increasing numbers keep their data stored into cloud server. In this paper, we focus on seeking a solution that allows secure and effective access to the cloud data. We propose an effective and flexible privacy-preserving data policy, P2E, utilizing ciphertext policy attribute-based encryption (CP-ABE) and combining it with technique of identity-based encryption (IBE). In addition to ensuring strong data sharing security, the policy succeeds in preserving the privacy of cloud users. Security analysis indicates that the proposed policy is security and enforces fine-grained access control and full collusion resistance simultaneously. Furthermore, our performance analysis and experimental results show that P2E is as light as possible.