(Yicai Global) April 24 -- The Shanghai Data Exchange has set up an international board to explore cross-border two-way data flows and encourage collaboration between businesses in China and their multinational counterparts, according to the chairman of Shanghai’s economy and informatization commission.

Wu Jincheng made the announcement at the Data Eco-system Partnership Conference held in Singapore today, the Shanghai Data Exchange said in a statement released today.

The international board has nearly 30 listed data products, mainly serving high-level international economic and trade exchanges, cultural exchanges, and cooperation in other fields, SDE Chief Executive Officer Tang Qifeng told the conference.

“To assure the smooth operation of trade, Shanghai Data Exchange is accelerating the build-out of a cross-border data trading system,” Tang said. “Such a system undertakes ongoing improvements to the fundamental infrastructure and builds a compliant and orderly mechanism for the flows of data on a global scale.”

Founded in November 2021, the SDE aims to solve the problems of data transactions, such as the difficulty in confirming rights, pricing, mutual trust, entry and supervision. It also hopes to provide efficient, convenient, compliant and safe trading services for data exchanges, and develop new formats of “digital business.”

Editor: Peter Thomas