plansShanghaiWorld News

Shanghai plans data exchange to help boost efficiency in manufacturing - Financial Markets Worldwide

Please try another search

ReutersEconomy47 minutes ago (Sep 09, 2021 03:46AM ET)

© Reuters. FILE PHOTO: Workers are seen on a production line manufacturing masks at a factory in Shanghai, China, January 31, 2020. REUTERS/Aly Song

BEIJING (Reuters) – 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.

Related Articles

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button