Technology offers lucrative returns

China aims to speed up research and application of big data technology by bolstering a national engineering laboratory, whose preliminary goals include realizing open access to government data, government-enterprise data fusion and data trade among enterprises.

"We have cooperated with 15 domestic institutions and universities since the establishment of the lab, and in its first year, we will try to boost our research capability by joining hands with 20 universities and around 30 enterprises globally," said Tang Qifeng, CEO of Shanghai Data Exchange Corp, who is also a council member of the newly launched National Engineering Laboratory for Big Data Distribution and Exchange Technologies.

Approved by the National Development and Reform Commission in February, the national engineering lab was launched by Shanghai Data Exchange Corp in March, and its other backers include China Internet Network Information Center, China United Network Communications Group Co, Fudan University, the China Academy of Information and Communications Technology, and Inspur Group Co Ltd.