Guiyang big data exchange pioneers big data transactions

The Global Big Data Exchange in Guiyang – capital of Southwest China's Guizhou province – has continued to innovate with its big data transactions and to date has attracted 371 data merchants providing 493 data products, generating total annual business transactions last year of 159 million yuan ($21.89 million).

The data products cover the areas of public resources, the weather, geographic spaces, financial services, government affairs and road transportation.

Breaking that down, public data products involve human resources data, real estate data, public resources data, taxation data, industry and commerce information and electricity data. The company data products involve weather data, national logistics data, bidding and tendering data, and telecom operators' data.

The exchange was established in 2015 and became the first of its kind in China. It has restructured and improved its organizational structure, data products, trading methods and profit models, and has built up its experience in promoting the distribution of data.

This year, the exchange has started to explore its approach to turn data elements into resources, assets and capitals, having developed an industry ecosystem for the distribution of data.

Currently, the exchange is focusing on bringing in data merchants and third-party professional service institutions in government affairs, finance, electricity, transportation, weather, energy and medical treatment.

It is also relying on the Eastern Data and Western Computing project to launch computing products and services onto the market.

In the future, the Global Big Data Exchange will create a data distribution and trading market system to make data transactions more regulated and market-oriented. Its aim is to reach the national first-class level in terms of its data transaction scale and become a core hub for China's data element circulation, and become a national data transaction center by 2025.