Shenzhen Data Exchange opens on Nov 15

The Shenzhen Data Exchange opened during the 24th China Hi-Tech Fair in Shenzhen on Nov 15.

The establishment of the Shenzhen Data Exchange is an important move by the Shenzhen government to deepen the reform of the market-oriented allocation of data. It is also an important way for Shenzhen to optimize the industrial layout of the digital economy.

The Shenzhen Data Exchange will develop service capabilities for the entire chain of data transactions, including compliance assurance, circulation support, supply and demand connection, and ecological development.

So far, the Shenzhen Data Exchange has seen about 1.11 billion ($155.8 million) in transactions. It has collected more than 55 types of data resources, including more than 600 data products.

The Shenzhen Stock Exchange plans to spend two to three years becoming a data element circulation hub with the largest transaction scale, most abundant data resources, most active development and application, and most powerful circulation support.

The center expects to have a transaction scale of over 10 billion yuan, cultivate or bring in more than 50 data service companies, and contribute more than 5 billion yuan to Shenzhen's economic added value.