Guiyang unleashes full potential of data elements

Guiyang, capital of Southwest China's Guizhou province, is a pioneer in the data element market, and in 2015, Guiyang's Global Big Data Exchange, the first data circulation trading market in China, was established.

In 2021, the exchange was upgraded to fully stimulate the potential of data elements.

As of July 31, 2024, Global Big Data Exchange hosts 1,424 market entities on its trading market, with a cumulative transaction volume of 4.79 billion yuan.

In 2024, the Global Big Data Exchange's added transaction volume reached 2.12 billion yuan, surpassing the total added transaction volume of 2023.

Challenges in rights confirmation, pricing, and regulation have long been obstacles to data circulation and trading. To address these difficulties, the Global Big Data Exchange introduced the country's first data trading rule system on May 27, 2022.

This system standardizes the entire data trading process in seven areas: circulation and trading rules, compliance review, cost assessment, price assessment, asset value assessment, platform operation management, and data merchant access.

This year, the Global Big Data Exchange has been focusing on the national market. Starting with data element market cultivation and data value release, it has promoted existing products, resources, and services to its service bases across the country.

As of now, the Global Big Data Exchange has established marketing service bases for data trading in Hainan province, as well as Chengdu, Wenzhou and Xiamen cities, providing clients with data trading consultation, diversified data trading product matchmaking, data compliance assessment, data security assessment, and talent training, among other professional third-party services.

In July of this year, the "assessment report on the development of the data element market in West China (2024)" evaluated the development level of the data element market in 131 cities in West China and compiled a top-50 list, in which Guiyang ranked the first.

Moving forward, the Global Big Data Exchange will continue to promote the value of data elements, leverage the existing resources in Guizhou, and boost the expansion of the data element market nationwide.

It will also continue to promote the construction of a multi-level data circulation trading market, strengthen and optimize the digital economy, and seek to become an example for the high-quality development of data circulation and trading.