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Shanghai plans data exchange to help boost efficiency in manufacturing

Shanghai plans data exchange to help boost efficiency in manufacturing
Shanghai plans data exchange to help boost efficiency in manufacturing   -   Copyright  Thomson Reuters 2021
By Reuters

BEIJING – China’s business hub Shanghai city is planning to set up a data exchange to help boost efficiency in the manufacturing industry as the city seeks to promote the digitalisation of supply chains, vice mayor Wu Qing said on Thursday.

Shanghai would encourage companies to share some data and also improve data regulations, Wu told a press conference.

Chinese regulators have instructed companies to ensure better handling of different kinds of data, amid public complaints about mismanagement and misuse which have resulted in user privacy violations.

The Data Security law, implemented on Sept. 1, sets a framework for companies to classify data based on its economic value and relevance to China’s national security.

China’s capital Beijing city earlier this year set up a firm to run a big data exchange.