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Shanghai set for lead role in data exchange

    China's online data exchange market is expected to generate a value of 100 billion yuan (US$15.2 billion) by 2020, with Shanghai set to play a leading role nationwide, the city’s data exchange center said yesterday.

    Shanghai has “natural advantages” to conduct data exchange business as a global finance center tapping its advanced information infrastructure and rich talent pool, Shanghai Data Exchange Corp said.

    Shanghai’s tradable data volume accounts for 12 percent of the national level, said Keven Tang, chief executive of state-owned SDE.

    The company will offer free services for data exchange and trade between 2016 and 2018 to cultivate the market.

    SDE has developed a credit risk profile product that offers a database of 50 million enterprises.

    The product is designed for financial institutions such as banks, brokerages, insurers and P2P platforms to improve risk control through credit and data checking.

    With a registered capital of 200 million yuan, SDE’s shareholders include Shanghai Information Investment Inc, China Unicom and Wanda Group’s Wonders Information Co.