Guiyang Global Big Data Exchange aims for high trading volume

The Global Big Data Exchange in Guiyang, capital of Southwest China's Guizhou province, recently announced its ambitious goals for the year 2025. It aims to achieve a trading volume of 10 billion yuan ($1.37 billion) and be home to over 1,000 data trading ecosystem enterprises.

Its ultimate goal is to become a national-level data exchange and make significant breakthroughs in data resource commercialization, assetization, and capitalization reforms. It also hopes to become a core hub for the circulation of national data production factors.

Established in 2015, the Global Big Data Exchange is the first of its kind in China. It currently supports the trading of a diverse array of products, such as data, computing power, and algorithms.

Its services span over 20 industries, including finance, transportation, and meteorology, with more than 1,000 products available. As of the end of July, the exchange had attracted 643 trading entities and accumulated a total transaction volume of 1.67 billion yuan.

Guiyang recently formulated the "implementation plan for optimizing and enhancing the Global Big Data Exchange", in line with Guizhou's implementation plan for the marketization configuration reform of data elements.

The implementation plan outlines 27 key tasks in eight areas. It aims to address challenges such as incoordination between data supply and demand, weak foundations for data circulation, incomplete industrial ecology for data circulation and transactions, slow progress in data circulation innovation, and difficulties in data resource supply, data asset financing, and data trading supervision.