(Yicai) Dec. 19 -- China inaugurated the China Digital Connection Logistics Information company in Shanghai today, which is the country’s first central state-owned enterprise for data science and technology.

China Digital Connection falls directly under the State Council's State-owned Assets Supervision and Administration Commission. As a central SOE, it undertakes special social and economic responsibilities.

China Digital Connection, which has a registered capital of CNY10 billion (USD1.4 billion), will mainly share, develop and utilize data resources in the highway, railway, aviation, and border crossings fields. It will integrate logistics data, information feeds and fund feeds to increase operating efficiency, serve the development of the real economy and lower logistical costs for the whole of society.

The SOE’s equity is held by shareholders of different types. China Merchants Group, China Poly Group, China Logistics Group, China TravelSky Holding, Shanghai Guosheng Group and Shanghai Data Group are all investors in the firm.

Editor: Kim Taylor