Tender, bid digitalization process ramps up

China will accelerate digitalization and information sharing for tenders and bids from this year, according to officials from the National Development and Reform Commission, the nation's top economic policy regulator.

The regulator will also work on providing a legal basis for the application of information technology to the industry, added Yang Jie, director of the department of laws and regulations of the NDRC.

A digitalized tendering system allows information exchange between platforms and across regions. In recent years, the NDRC has set up public service platforms in provinces and cities that encourage information exchange with local tender platforms. Information exchanged includes regulations, bidders' information, costs and bid prices.