Transactions of China's first big data exchange was expected to reached 200 million yuan by the end of 2017, the exchange's executive president said Saturday.
The value of big data lies in circulation and trading. Now the turnover of the exchange is 100 million yuan, one percent of that in the black market, Wang Sanshou, executive president of Global Big Data Exchange, said at the 2017 China International Big Data Expo in Guiyang, capital of Southwest China's Guizhou province.
As the first big data trading institute of China founded in April 2015, there are 1, 000 members now compared to 300 at the end of 2015.
Members included major domestic IT companies such as China Unicom, Alibaba Group, JD and Huawei.
"All the internet companies in the world will become big data companies in three to five years, " Wang said. "There is no industry which is not linked with data."
The exchange broke even in the first half of 2017, he said.
Since the government has 80 percent of valuable data, the exchange also established cooperation with more than 100 provinces and cities of China in the data development and sharing business, Wang said.
It set up more than 10 big data trading service centers across the country, including those in Beijing, Shanghai, cities in Central China's Henan province and North China's Shanxi province, he said.
