Guizhou establishes data transaction service center

Southwest China's Guizhou province on Oct 11 launched a data circulation transaction service center – based in the capital of Guiyang – with the online operations of the data trading platform marking the point where the region's data industry has entered a new area.

On its launch day, 15 professional data providers – including Guizhou Power Grid, Guizhou Mobile, Guizhou Telecom and Guizhou Unicom – joined the operation, providing more than 20 data products and services.

The launch of the platform is regarded as a test for the exploration and innovation of data rights, data pricing, transaction mechanisms and operating models for other provinces in the country.

Pan Weijie, deputy director of the service center, said that as a new model for data circulation transactions, the facility will further resolve bottleneck problems – such as lack of credibility in data circulation transactions, an insufficient market supply, lack of security and a weak trading ecosystem.

Pan added that the center would take efficiency, fairness and data security into account. It would undertake its responsibilities for data circulation and transaction management, establish and improve circulation transaction rules, as well as improve platform operations management and data provider access management.

The platform has reportedly adopted new technical modes such as privacy computing, federated learning and blockchain. Based on a safe and reliable development and utilization environment, Pan said it would provide services such as data product launches, data product transactions, data vendor access and transactions supervision – so the data was "available but not visible", "controllable and measurable" and "credible and traceable".

The operator of the data circulation and trading platform is Guizhou Yunshang Data Trading Co, jointly established by provincial State-owned enterprises and Guiyang's State-owned enterprises.

It is responsible for market promotions, transactions matching and business development. It will actively explore market-oriented operations paths and help foster a group of professional data vendors and third-party service organizations, striving to create a data circulation and transactions ecosystem that serves the whole country.