The Shanghai Data Exchange opened for the first time on Thursday, as part of China’s attempts to create a large data market so that the digital commodity can be sorted, priced and traded like regular commodities, reports the South China Morning Post. The new exchange initially offered 20 data products, including flight information from China Eastern Airlines, and various data from telecommunications network operators China Mobile, China Unicom and China Telecom.
One of the first transactions made at the exchange involved the Shanghai branch of the Industrial and Commercial Bank of China, which struck a deal to use data from the State Grid’s Shanghai Municipal Electric Power Co to help improve its financial products.
The State Grid is part of the first batch of 100 enterprises, including accounting firm PwC and cloud computing services company UCloud, to sign up as “data merchants” with the exchange.
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