(Yicai Global) March 16 -- Financial authorities in China's southern economic powerhouse, Guangdong province, will establish a Big Data trading center to provide the public sector with a series of services as part of efforts to boost the local development of the field.
Guangdong Assets and Equity Exchange Group, an affiliate of the province's State-owned Assets Supervision and Administration Commission will take a 35 percent stake in the platform, which will offer services including data-trading, settlement, delivery, security guarantees, and data asset management, read a statement from fellow shareholder Beijing E-Hualu Information Technology Co.
The data trading center, with CNY50 million in registered capital, will help integrate government data with enterprise data to boost the development of the e-commerce, industrial internet, and internet finance sectors, while also allowing the government to better regulate Big Data transactions, especially those relating to national security and trade secrets regulations.
E-Hualu said the joint establishment of a Big Data trading center will provide more business models for the company's big data strategy while strengthening its presence in the province.
Founded in 2001, E-Hualu is a subsidiary of China Hualu Group and mainly engages in internet operations services regarding traffic control, public security, and intelligent medical systems.