Guizhou releases China's first data trading rule system

Guizhou releases China's first data circulation and trading rule system. [Photo/ddcpc website]

The circulation and trading rule system of the Guiyang Big Data Exchange was released in Guiyang, capital of Southwest China's Guizhou province, on May 27, making Guizhou the first province in China to release such a system.

The system focuses on problems related to determining authentic data rights, pricing, mutual trust between market trading entities, market entry and market supervision of data trading, and consists of eight rules, guidelines and regulations.

It is not only expected to realize the value of data elements and develop the data circulation and trading industry, but also further regulate the operational mechanisms of the Guiyang Big Data Exchange.

The Guiyang Big Data Exchange was established in 2015 and officially started operating in 2021. So far, it has 213 data merchants and 283 data products, and has closed 59 deals with a total turnover of 40.95 million yuan ($6.15 million).

In the future, the Big Data Development Administration of Guizhou Province will continue with the reform of the market-oriented allocation of data elements, and create a data element market system with an orderly data supply, diverse industrial ecology, complete rules and regulations, regulated trading venues, efficient incentive policies, and strong security assurance.