In an interview with the South China Morning Post, Chief executive of Shanghai Data Exchange Corp Keven Tang Qifeng revealed that his company is planning to set up a massive electronic data trading platform which will boost Shanghai’s profile as a major tech hub.
He added that even today, there is already a strong demand for trading of data sets, and the company is looking to capture around one -third of the national trading volume by 2020 where the market is expected to grow to around $15 billion.
In addition to its efforts to stay at the forefront of China’s tech innovation, Shanghai will also be supporting tech startups with multibillion-yuan funds backed by the government. It is also studying incentives such as easier access to funds, lower taxes and office costs to attract more digital businesses.
Source: Yahoo News SG