China’s new Shanghai Data Exchange on November 25 officially opened for business in the Pudong New Area, Shanghai city. 20 data products, which falling under eight categories such as finance, transportation and communication, are currently listed to be traded.

The rest of the data providers to the listed include Shanghai Electric Power Co., Ltd., China Eastern Airlines, and more. The exchange’s service providers include Operation Technology Development (OTD) companies such as Big data risk management company Fudata, cloud service provider Ucloud, and Transwarp, accounting organizations such PricewaterhouseCoopers and Deloitte, and law firms such as King & Wood Mallesons.

The data exchange was established to help boost efficiency in the manufacturing industry as the city seeks to promote the digitalisation of supply chains, according to vice mayor Wu Qing. Companies are encouraged to utilize a specialized exchange 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.