Shanghai Data Exchange forms international board for cross-border data flow
The Shanghai Data Exchange has established an international board to boost cross-border data flow and global data interconnection.
Wu Jincheng, director of the Shanghai Commission of Economy and Informatization, officially announced the establishment of the Shanghai Data Exchange International Board at the Data Eco-system Partnership Conference (DEPC), which was held in Singapore on Monday.
With booming development of the digital economy, cross-border data flow has played an increasingly important role in supporting international trade, promoting cooperation in cross-border technological development, and facilitating sharing of data resources.
The board aims to enable global data interconnection by exploring new mechanisms for two-way cross-border data flows and encouraging collaborations between enterprises in China and their multinational counterparts.
Over the last few years, the Chinese government has issued several circulars associated with data factors, including the guidelines to build basic systems for data, and a plan for the overall layout of the country's digital development. These documents specified the requirements for security and compliance of cross-border data flows.
In line with the positioning of the National Data Exchange, the Shanghai Data Exchange is dedicated to building a key hub for allocating global data factors with the establishment of an international board.
The newly established board already listed nearly 30 data products serving high-level international economic and trade exchanges, cultural exchanges, and cooperation in other fields, said Tang Qifeng, chief executive of the Shanghai Data Exchange.
The data exchange opened with many nationwide "firsts" for its data trade ecosystem, smart transaction system, and digital certificate. It's designed to improve data use and management, and connect "isolated data islands" to boost Shanghai's digital hub construction.