Year-ender: Major financial events in 2021

Shanghai launches data exchange

The Shanghai Data Exchange was established on Nov 25 in the city's Pudong New Area and began trading on the same day.

A total of 20 data products were listed on the exchange on the first day of trading, covering eight industries including finance, transportation and communication.

Located in the core area of Zhangjiang High-Tech Park in Pudong, the SDE was established to address the major difficulties in data trading including identification of data ownership, pricing of data, reaching mutual trust between transaction parties, initiating transactions and overall supervision, said local authorities.

The move represented Shanghai's efforts to promote the circulation of data elements, push forward digital economy development and build Pudong into a socialist modernization pioneer area.