International Data Port supports innovation and analysis
The Lingang area of the Shanghai free trade zone has become a test ground for many companies of different industries.
Domestic and multinational companies are increasingly turning to Shanghai's International Data Port for innovative solutions in international data circulation and data value conversion, with the number of members of the International Data Port Industry Alliance surging from a little over 100 early last year to over 400.
"I expect that number to grow to over 500 and maybe close to 600 by end of this year," said Li Jing, general manager of the company.
The company was first set up in the Lingang area of the Shanghai free trade zone in August 2020, and gradually grew to be more efficient and experience in data-related solutions, thanks to increasing demands that require tailor-made solutions, as well as supportive measures and innovative spirit of Lingang, according to Li.
"We really strive to balance between security & controllable and convenient and highly efficient," he explained. "Companies, both domestic and multinationals want data flow to be as convenient and efficient as possibly, which helps with their business, but at the same time, you ought to abide local rules and standards, which still differ around the world."
The International Data Port innovates in the field of cross-border data flow while striving to balance between security and convenience.
Finding tailor-made solutions to connect is a core business that is much sought after by both Chinese and foreign companies.
Li gave example of a local bank which sees increasing transitions in international trade and needs verification on authenticity and credibility of the foreign companies and their trade. The data port designed a system that utilizes artificial intelligence to compare and verify various international data of relevant companies and trade, and was fast enough to reach the calculation capacity of 10 million transactions a month.
Another inquire came from a top international company in the business of supply chain visibility, which is the ability to track different goods in transit with a clear view of the inventory and activity. The company, eying the vast and well-rounded supply chain in China, hopes to expand its business here, but lacks the knowledge for local laws and measures for information such as inventory.
"All these requests require innovative and tailor-made solutions ― our specialty and also most fitting in Lingang area where many pilot projects could move quickly," Li said.
"Whether the requests come from domestic or foreign companies, it's essentially the same -- connecting the two helps both."
The data port will move to the city's global digital harbor, currently under construction. Shaped like a fish, it is also known as the information "flying fish." The harbor on the East China Sea will also house a cross-border data gateway test station, a cross-border live-streaming base, and an international cloud service base, among others.
The zone aims to become a data service highland with international influence, actively participating in global digital economy cooperation based on the international data port and playing a role in the international mutual recognition and cooperation of data standards.
The highlighted fish-shaped space, currently under construction, will become a global digital harbor, also known as the information "flying fish."
