Experts suggest boosting data transactions

China has been striving to achieve a balance between protection and effective use of data. At a roundtable discussion held on April 16, experts in this field shared their views on data exchange and transaction, in the hopes of developing a healthy data market.

Mu Yong, an expert from Beijing International Big Data Exchange, said value can only be created through the circulation of data factors, so it is essential to boost data sharing between governments and enterprises while relying on the power of market to promote transactions.

China's big data trading platform emerged in 2015, and from 2015 to 2016, 13 big data exchange centers were established across the country. However, stagnation came next due to low market recognition and lack of effectiveness. BIBDE was recently founded, and attracts high hopes.

"BIBDE is set up to exploit the value of date, not to trade data," Mu said. "As a data management platform, it works on raw data from e-commerce, communication, delivery companies, government and research institutions, and provides the product to the demand side, such as enterprises, governments, universities and individuals."

China has adopted an inclusive and prudent policy for digital technology, establishing a friendly market and regulatory environment. Thus, China's digital economy flourished. But experts have also put the issue of personal data protection on the table.

Gao Xiaoyu, deputy director of the Information Policy Institute of the China Industrial Control Systems Cyber Emergency Response Team, said enterprises using data resources for ill will jeopardize personal privacy, consumer rights, national security and the development of the real economy.

Gao suggested accelerating the clarification process for data ownership. She also suggested rolling out pilot work on trusted platforms. "It could start from industries with less personal data, such as environmental protection, scientific research, and others."