Shanghai city, one of the major business hubs in China, is planning to set up a data exchange to boost efficiency in the manufacturing industry as the city seeks to promote the digitalisation of supply chains.
Shanghai vice mayor Wu Qing said on Thursday that Shanghai will encourage companies to share some data and also improve data regulations.
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, Reuters reported.
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.