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Employees check equipment at a big data center in Guiyang, Guizhou Province, in May.East District/Xinhua
Located in Guiyang, the capital of Guizhou province in southwestern China, the Global Big Data Exchange is stepping up its efforts to facilitate the circulation and trading of data elements. This is because the country has issued guidelines to build a data base system and make better use of data resources.
As the first domestic big data exchange, Guiyang’s global big data exchange is a pioneer in enhancing the flow and trading of data resources across the country. So far, the exchange has attracted 451 data merchants, 228 of which are from Guizhou province. A total of 157 transactions were closed, with a cumulative transaction value of 382 million yuan ($56.5 million).
Utilizing advanced technologies such as blockchain, we offer 668 products covering big data, computing power and algorithms. There are currently 499 and 125 data products and services and algorithmic tools, respectively.
Guizhou has become a front-runner in China’s big data industry since it was approved to host China’s first comprehensive big data pilot area in 2016. It should exceed 10 billion yuan by 2025.
Founded in 2015, the Guiyang Exchange will continue to improve the industrial chain of data circulation and trading, strengthen policy support and data supply, build a data circulation and trading market system, and make data trading more regulated and Be market oriented. Maximize the value of your data.
It aims to become China’s data element distribution hub and develop into a national big data exchange. In the meantime, further efforts are needed to explore data pricing mechanisms and valuations, as well as diverse commercial models of data trading.
Experts say the data element has become a key engine for driving the development of the digital economy. Data, as a new type of production factor, is a fundamental and strategic resource of the country.
As part of a broader effort to promote the development of the digital economy and inject new impetus into economic growth, China announced in December 20 major measures to help build a basic system of data. Announced.
The country’s data system includes establishing an asset system, a distribution and trading system, an income distribution system, and a security governance system.
“The data element is a key factor driving artificial intelligence and big data. By facilitating the circulation of data resources, data producers and owners can transfer data to users through data transactions, empowering the real economy. and unlock the value of data elements,” said Pan. Mr. Helin is co-director of the Digital Economy and Financial Innovation Research Center, Zhejiang University International Business School.
Pang said that blockchain technology should be leveraged to further ensure the protection of data-related rights, which is a prerequisite for data transactions and distribution.
The Ministry of Industry and Information Technology announced the development plan of big data during the 14th five-year plan period (2021-2025). Under this plan, the scale will exceed his 3 trillion yuan by the end of 2025, with a compound annual growth rate of about 25 percent.
Ma Yanxin, a researcher at the South China Normal University Law School, said that data resources are the foundation of the development of the digital economy.At present, the distribution and trading of data elements are mainly concentrated in the fields of electricity and finance. added. Efforts should be made to enrich the data transaction scenarios.
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