International data cooperation zone in Shanghai suggested by CPPCC member
China should set up a high-standard international data cooperation zone and an international board for data trading in Shanghai, according to a Shanghai delegate to the ongoing Two Sessions 2023.
The move would fit with Shanghai and China's strategies to boost digital trade and high-quality opening-up and improve the business environment, said Zhang Ying, vice director of the Shanghai Commission of Economy and Informatization.
Zhang, a Chinese People's Political Consultative Conference (CPPCC) member, is attending the Two Sessions in Beijing.
According to Zhang's proposal, the zone should be founded in Shanghai's free trade zone, with high-level digital trade standards, like those of the Digital Economy Partnership Agreement (DEPA), which cover data flow, data security, authentication and assessment and digital currency.
The country should also enhance information infrastructure for data cooperation, covering international connectivity and arithmetic collaboration. The key techs include blockchain and privacy computing.
Currently, the Shanghai Data Exchange is constructing a new trading chain based on blockchain and smart contracts, covering six sectors: registration, listing, trading, delivery, clearing and settlement and voucher issuance.
The new data trading chain will make the trading process more secure, efficient and transparent.
Relying on the Shanghai Data Exchange and other national data exchanges, China can set up an international board for data trading in the future, Zhang added.