Economy47 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.
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