Shanghai Data Exchange

History

2021: Start of data trading on the exchange

At the end of November 2021, the first day of trading on the Shanghai Data Exchange took place in China, within which approximately twenty trading products from several categories were presented, including: telecommunications, transport, finance, etc.

On the first day of trading, information products such as flight data from China Eastern Airlines and various data from telecom network operators China Mobile, China Unicom and China Telecom were noticed on the exchange. One of the first transactions made on the stock exchange was with the Shanghai branch of the Industrial and Commercial Bank of China (ICBC), which entered into a deal to use data from Shanghai Municipal Electric Power, owned by State Grid, to improve its financial products.

Shanghai opens data exchange

State Grid is part of the first group of 100 businesses, including a consulting PwC and provision company, cloud computing UCloud that have registered as "data sellers" on the stock exchange.

The launch of data trading in China comes as the government seeks to accelerate the development of digital trade, a segment that becomes an integral part of the economy, amid questions that these efforts may be hindered by country restrictions on cross-border data flows.

This plan was developed by the Ministry of Commerce of China (Mofcom) as part of its 14th five-year plan for trade in services, published in October 2021. The agency pledged to support trade in digital products, create favorable conditions for digital products to go abroad and investigate data trade. It will also help digitalize traditional trade in services.

Chairman of the exchange Zhang Qi noted that the exchange's digital data trading system can guarantee real-time listing and trading, as well as the ability to track each transaction on the exchange.^[1]

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