Guiyang and Wenzhou collaborate in data element market development

The Data Exchange Data Time Service Base is unveiled in Guiyang, capital of Southwest China's Guizhou province. [Photo/ddcpc website]

The China (Wenzhou) Data Security Hub Administrative Committee, Guiyang's Global Big Data Exchange, and Wenzhou Data Exchange Center signed agreements and unveiled the Data Exchange Data Time Service Base in Guiyang, capital of Southwest China's Guizhou province, on March 12.

In the future, the three parties will enhance innovative cooperation in data scenario creation, resource matchmaking, data asset financialization, computing resource cooperation, data time service base cooperation, and standardization research on data elements.

They will explore cross-industry and multi-domain application solutions for the circulation of data elements, promote mutual recognition of rules for data merchants and data trading, and conduct business pilots on this basis to build a commercial model.

Chen Wei, chairman of the Global Big Data Exchange, said, "After the establishment of the Data Exchange Data Time Service Base, the Global Big Data Exchange will focus on building secure and trustworthy circulation transaction infrastructure to empower regional data merchants, data intermediaries, and other market entities in Wenzhou, and provide customers with high-quality, efficient, secure, and compliant data circulation transaction services."

The China (Wenzhou) Data Security Hub is targeting three major goals: becoming a world-class data hub, a national first-class data trading center, and China's new hub of digital economy. It aims to create the nation's only government-led data security compliance system and a five-in-one data judicial protection system.

As an important part of the construction of the China (Wenzhou) Data Security Hub, the Wenzhou Data Exchange Center carries out tasks such as trading operational products with public data authorization, data procurement and trading, data product trading among data merchants, data asset registration, data trading policy trials, and application services for data element scenarios.

Guiyang's Global Big Data Exchange provides convenient and secure data circulation transaction services nationwide to promote the cross-regional interconnection of such data trade.