China News Service, December 5th, title: Deciphering "Shanghai Digital Exchange": From "Stock Exchange" to "Digital Exchange" Shanghai reopens "new trading market"

　　Reporter Zheng Yingying

　　The "digital age" has come. In order to promote data transactions, Shanghai opened the Shanghai Data Exchange (abbreviation: Shanghai Data Exchange) at the end of November 2021.

Why set up a data exchange?

The reporter recently interviewed Huang Lihua, the executive deputy director of the National Engineering Laboratory of Big Data Circulation and Transaction Technology and Professor of Fudan University, who participated in the construction of the Shanghai Digital Exchange, and answered the relevant content:

From "Agricultural Products in the Field" to "Data in the Digital Age"

　　Why set up a data exchange?

Data circulation and trading will soon become an independent track in the digital economy, and the Shanghai Data Exchange will be born accordingly.

　　Take, for example, agricultural crops. Farmers used to grow them. If they were too many, they might rot in the fields.

Later, there were brokers in the village, in the county, and in the city, and gradually formed a commercial circulation system, allowing a large number of agricultural products to circulate quickly without being rotten in the fields.

The generation and use of data is similar.

　　With the advent of the digital age, a large amount of data has emerged.

Take Shanghai as an example. In the past few years, Shanghai has been emphasizing data governance and accelerating industrial agglomeration, and has been very active in the data field. At present, there are more than 1,000 relevant big data core companies in Shanghai, and the scale of big data core industries has reached 230 billion yuan. , And (industry scale) maintains an annual growth rate of 15% to 16%; in addition, Shanghai has a large number of demonstration digital applications to promote high-quality economic and social development.

　　Therefore, at the moment, how to keep the data in the "field" and make the data "live" and "used" has become the original intention of the Shanghai Data Exchange.

From "Shanghai Stock Exchange" to "Shanghai Number Exchange"

　　At the end of 1990, the Shanghai Stock Exchange was formally established. There were 8 companies listed first, known as the "old eight stocks."

Thirty-one years later, Shanghai established a data exchange, and completed the listing of 20 data products on the day of its establishment, covering eight major categories including finance, transportation, and communications.

　　From the "old eight stocks" to the "new eight categories", compared with the Shanghai Stock Exchange, although the Shanghai Data Exchange has different attributes, from the perspective of setting a milestone, perhaps 10 or 20 years later, we will look back. Found that there are many similarities in its development path.

　　The Shanghai Stock Exchange started with the "old eight stocks" at that time, while the Shanghai Digital Exchange now starts with eight categories of data.

Although it is still in its infancy, Shanghai hopes to build a data exchange comparable to the Shanghai Stock Exchange in the future through accumulative attempts and small steps. It is hoped that its influence on the digital economy is just like the Shanghai Stock Exchange today. The influence of China's capital market.

From "Four Elements" to "Fifth Element"

　　Data elements have become the "fifth element" after land, labor, technology, and capital.

The characteristics of the elements are: one is "connected", which can be "connected" to realize the "multiplier effect", changing from 1 to 10, and 10 to 100; For cities with strong endogenous driving forces for economic development, the "use" of data is a matter of course.

　　To transform data from resources into assets, we have to make a "hard leap." If we step on it, we will jump over; if we can't step on it, we will fall.

　　This is a long process, but Shanghai has already embarked on this path and hopes to improve it in practice.

The future ambition of the Shanghai Digital Exchange lies in the hope that an influential "Shanghai Digital" can be formed, just like the influential "Shanghai Gold", "Shanghai Oil" and "Shanghai Copper" and other "Chinese prices" in the financial market. To win important voice and pricing power for China in the era of digital economy.

　　The Shanghai Digital Exchange may be exploring such a path for the future. Although this system cannot be built overnight, after 10 years, data transactions may be the entry point for the development and upgrading of the digital economy after the Internet economy. .

(over)