The Dream Factory of China

Source :Shenzhen Daily

The Shenzhen Data Exchange was inaugurated this morning at the 24th China Hi-Tech Fair at Shenzhen Convention and Exhibition Center, a milestone event for the city to promote online data exchange and its digital economy development.

Thus far, a total of 415 registered transactions worth more than 1.1 billion yuan (US$156.13 million) have been completed at the Shenzhen Data Exchange. The transactions cover 53 types of application scenarios such as financial technology, digital marketing and public services. Among the 415 transactions, 14 were cross-border with a total transaction amount of 11.15 million yuan.

The establishment of the Shenzhen Data Exchange is a concrete move to implement the instructions of the 20th National Congress of the Communist Party of China and the 24 measures to ease market access in Shenzhen. It is of great significance to deepen the reform of market-oriented allocations of data elements, promote the agglomeration and circulation of data elements in the Guangdong-Hong Kong-Macao Greater Bay Area, and accelerate the quality development of the digital economy.

The Shenzhen Data Exchange will focus on four major aspects of compliance assurance, supply and demand connection, circulation support, and ecological development to provide service capabilities covering the entire chain of data transactions. It will strive to serve as a national trading platform for cross-domain and cross-border circulation of data elements, explore demonstration paths and transaction models of market-oriented allocation for data elements that adapt to the development of China’s digital economy, and build Shenzhen into a hub for the gathering of national data resources, the development of data products and data trading.