Guiyang-based SOE's data products listed for trading

The Guiyang Smart Parking Operation Data system and Guiyang Smart Parking Utilization Analysis Data system – two data products containing a total of 95.07 million data entries – gained a listing and started trading on Aug 29 on the Guiyang Big Data Exchange, securing a bank pre-credit line of 10 million yuan ($1.4 million).

The data products were jointly developed by Guiyang Smart City Operation and Development Group Co, a unit of State-owned Guiyang Infrastructure Construction & Investment Group Co – based in Guiyang, capital of Southwest China's Guizhou province – and China Electronics Data Industry Group.

The data products focus on data resources related to the smart parking business segment. Through data collection and analysis – among other things – these data resources were processed into measurable, tradable data assets that are now incorporated into the company's financial statements.

The successful registration and listing on the Guiyang Big Data Exchange mark the transformation of data into assets, commodities and marketable products.

Zhou Chubin, chairman of the Guiyang Smart City Operation and Development Group Co, said the data products were derived from the Guiyang Smart Parking application, public parking lots and on-street parking spaces.

They encompassed data on parking lot utilization rates, parking space status, parking equipment and parking durations.

Once listed for trading, the two data products can be applied in various scenarios – helping government departments, businesses and parking users understand parking density and traffic flows.

This, in turn, provides data support for Guiyang's continued efforts to optimize the allocation of parking resources and improve parking management efficiency.

Additionally, the inclusion of these data assets in financial statements – along with their trading and financing – successfully converts digital technology and data resources into new profit growth points for the company.

It's expected that this will positively impact the asset base of the Guiyang Smart City Operation and Development Group Co and broaden its financing channels.