China building regional big data exchange

CHANGSHA -- Central China's Hunan Province on Wednesday began building a regional big data exchange in the latest move to tap into the country's booming digital economy.

The Hunan Big Data Exchange, to be located in the provincial capital Changsha, will trade "data products" from several southern provinces including Fujian, Guangdong and Hainan, according to Hunan's department of industry and information technology.

The exchange will mainly trade geospatial data related to communication, navigation, remote sensing and mapping, apart from other government, corporate and financial data that can be legally traded.

Construction of the exchange, which is being built with an investment of 300 million yuan ($42.9 million), is expected to finish in December.

Facing economic pressures due to COVID-19, China has been seeking more targeted investments in "new infrastructure" such as 5G networks, big data centers and other projects that facilitate innovation and strengthen weak links in economic and social development.