Shanghai Data Exchange Established, Addresses Data Confirmation Rights, Pricing, Mutual Trust

shanghai
(Source: Sina)

On Thursday, the opening ceremony of the Shanghai Data Exchange and the Global Data Ecosystem Conference 2021 were held in Shanghai. The new Shanghai Data Exchange focuses on the common problems such as the difficulty in confirming data rights, pricing, mutual trust, admission and supervision.

In view of the above issues, the establishment of the Shanghai Data Exchange will provide five programs in its preliminary stage:

First, the Exchange will launch China’s first data ecosystem while establishing a new ecosystem format covering data transaction subjects, data compliance consultation, quality evaluation, asset evaluation, delivery and other fields. Second, the Exchange will set up China’s first supporting system for data transactions and provide serial institutional standards for the process of data transactions.

Third, the Exchange will establish China’s first all-digital data trading system and apply a new generation of intelligent data trading systems that will be able to ensure full-time listing, global trading and the traceability of data transactions. Fourth, it will release China’s first data product registration certificates, count and survey through the issuance of data product registration certificates and data transaction certificates. Fifth, the Exchange will publish China’s first data product specifications so that the data is readable in the form of data product specifications and is able to transform abstract data into concrete products.

On the very day of its establishment, the Shanghai Data Exchange accepted and listed about 100 data products, involving eight categories such as finance, transportation and communication.

The first batch of 100 data companies signed contracts, including data trading entities, such as State Grid Shanghai Municipal Electric Power Company, China Eastern Airlines; Law firms and accounting firms, such as Co-Effort Law Firm, King & Wood Mallesons, Zhong Lun, PricewaterhouseCoopers, Deloitte; and delivery enterprises, such as Transworp Technology, Ucloud, Fushu Tech, Sudo Technology, among others.

SEE ALSO: Tencent Cloud Launches First Data Center in Brazil

The first Shanghai Data Transaction Expert Committee was also formally established, including 31 experts with experience in legal compliance, financial transactions, data industry, data security, public management, economics and other fields. The commission will provide advice and professional guidance for data circulation transactions, making safety, standardization and order the key features of the Shanghai Data Exchange.