1001 Smart Cities
🇨🇳 Shanghai

Shanghai Data Exchange

🤖 AI-generated summary · ◆ 4 sourced claims · 🔎 Last verified

This overview was generated with AI from the public sources listed below and checked against them before publication. It has not had a complete human fact-check — treat it as a starting point and follow the sources.

4 sourced claims on this page, none individually verified yet — turn on “Sources in the text” to see each one.

How this atlas is made · What “last verified” means · What “source-checked” means · The full record behind this page

✎ Updated 22 Aug 2026 Publication date recorded for 8 sources. What changed →

A state-backed venue for buying and selling data opened with 20 products listed on day one. The city reports over 2,700 since, unaudited, while analysts still ask whether such markets trade at all.

Outcome🔄 Ongoing
Evidence🏛️ Official
what does this mean?The strongest source is the operator's or the city's own reporting — an official report, dataset or press release. It grades who did the looking — not how well the project went. All four grades →
Run byShanghai Data Exchange Co., Ltd., a state-capital-led entity supervised by the Shanghai Municipal Commission of Economy and Informatization
Scale🌍 National

Part of 1001 Smart Cities — 1,167 documented projects · 🏙️ 11 more in Shanghai · 🪪 Digital government guide · 📡 Data & IoT projects

Shanghai opened a state-backed venue for trading data products in November 2021, listing 20 products across finance, transport and telecoms on its first day and signing 100 firms as registered 'data merchants'. Every listing carries a registration certificate under a one-product-one-code registry, and the Shanghai Data Regulations gave the market a legal basis from January 2022. Turnover has grown on the city's own figures. But China's earlier data exchanges, starting with Guiyang's in 2015, attracted little trade, and independent analysts still question whether these venues have real liquidity.

Live 📅 since 2021

📊 Impact

Over 2,700 data products listed between November 2021 and mid-2024, and RMB 1.16 billion in data-product transactions in 2023 — Shanghai municipal government figures, not independently audited.

📡 Data & IoTDigital government

Sources

↗ Xinhua — Shanghai Data Exchange inaugurated (25 Nov 2021)Launch date; 20 data products listed on day one across eight sectors; 100 first-batch data merchants; describes the data product registration certificate enabling one product, one code.
↗ Shanghai Municipal People's Government — first data-asset trading market begins trial operation at the SDE (29 Jun 2024)Carrying sentence for the impact figure: over 2,700 data products listed since November 2021, and 2023 data-product transaction value above RMB 1.16 billion.
↗ Shanghai Municipal State-owned Assets Supervision Commission — SDE 2024 turnover (25 Dec 2024)State-owned assets regulator reports 2024 turnover past RMB 4 billion and over 4,500 listed data products. Operator-side reporting, not audited.
↗ Cooley — Shanghai Data Exchange kicks off trading (legal analysis)Published 12 January 2022The exchange is a quasi-government entity; the Shanghai Data Regulation (effective 1 Jan 2022) implements PIPL, the Cybersecurity Law and the Data Security Law. Notes that guidance does not resolve data ownership or publish operative pricing rules.
↗ Sixth Tone — Companies in Shanghai take first steps to trade data like stocksPublished 3 December 2021Independent counterweight. Guiyang's earlier exchange saw few transactions; quotes Trivium's Tom Nunlist that the venue is 'still very experimental, and there are many foundational challenges to solve, including standardizing data valuations'.
Show 3 more sourcesShow fewer
↗ South China Morning Post — How to buy and sell data? Shanghai starts new exchange (25 Nov 2021)Confirms the 20 launch products and the first trade, in which ICBC's Shanghai branch obtained State Grid data. States that Guiyang's 2015 exchange failed to take off.
↗ Rest of World — China's government now allows companies to register data as assets (26 Feb 2025)Independent counterweight on adoption: only 283 companies had registered data assets by end-2024, out of nearly 60 million registered firms. Quotes CIGI's Alex He that earlier exchanges failed on weak standards, data quality and low trust.
↗ Pudong New Area government — SDE international zone, second anniversary (30 Apr 2025)Updated 30 April 2025Currency check: the cross-border zone was still operating in 2025 with over 30 international data merchants and nearly 200 listed products.

📅 How old is the evidence?

Two clocks, kept apart: when this entry’s sources were published, and what has happened to its record in the atlas. Documented span: since 2021. 5 of 8 sources carry a publication date, from 3 December 2021 to 26 February 2025.

When the sources were published

  1. Sixth Tone · pressSixth Tone — Companies in Shanghai take first steps to trade data like stocks
  2. Cooley LLP · vendorCooley — Shanghai Data Exchange kicks off trading (legal analysis)
  3. Shanghai Municipal People's Government · city governmentShanghai Municipal People's Government — first data-asset trading market begins trial operation at the SDE (29 Jun 2024)
  4. Shanghai Municipal State-owned Assets Supervision and Administration Commission (Shanghai SASAC) · city governmentShanghai Municipal State-owned Assets Supervision Commission — SDE 2024 turnover (25 Dec 2024)
  5. Rest of World · pressRest of World — China's government now allows companies to register data as assets (26 Feb 2025)

Every source, with links ↑

What happened to this record

  1. Sources last read
  2. Entered the record
  3. Publication date recorded for 8 sources

Every revision, permanent →

Show your work What this page rests on and what it can’t tell you · all 4 claims with their sources · the forensic record

Evidence Passport · public beta 4 addressable claims, 8 source dossiers, one permanent baseline. The passport is unreviewed — an AI-assisted structural migration, not a human or expert endorsement. Every revision keeps a permanent copy under revision history.

Inspect the claims, one by one — verbatim text, sources and caveats for all 4

The text below is copied verbatim from the published record. Each claim names the source dossiers that carry it; caveats stay attached to the claim they qualify.

Claim 1 clm-04b62ea747e64610 quantitative
Shanghai opened a state-backed venue for trading data products in November 2021, listing 20 products across finance, transport and telecoms on its first day and signing 100 firms as registered 'data merchants'
Published field
snippet · verbatim
Mapping
mapped · no interpretation or interpolation added by this passport
What the mapping says
The launch report gives the date, 20 data products listed on day one across eight sectors, and 100 first-batch data merchants. The independent account confirms the 20 launch products and describes the first trade, in which a bank's Shanghai branch obtained grid-operator data.
Caveat
No claim-specific caveat recorded

Sources carrying this claim

  1. Xinhua — Shanghai Data Exchange inaugurated (25 Nov 2021)
  2. South China Morning Post — How to buy and sell data? Shanghai starts new exchange (25 Nov 2021)
Claim 2 clm-182126b5afb6d35c quantitative
Every listing carries a registration certificate under a one-product-one-code registry, and the Shanghai Data Regulations gave the market a legal basis from January 2022
Published field
snippet · verbatim
Mapping
mapped · no interpretation or interpolation added by this passport
What the mapping says
The launch report describes the data product registration certificate enabling one product, one code. The legal analysis records that the exchange is a quasi-government entity and that the Shanghai Data Regulation, effective 1 January 2022, implements the national personal-information, cybersecurity and data-security laws.
Caveat
The same analysis notes that the guidance does not resolve data ownership and publishes no operative pricing rules — the legal basis is for the venue, not for what is being sold.

Sources carrying this claim

  1. Xinhua — Shanghai Data Exchange inaugurated (25 Nov 2021)
  2. Cooley — Shanghai Data Exchange kicks off trading (legal analysis)
Claim 3 clm-00fc8a59b55baf2e quantitative
But China's earlier data exchanges, starting with Guiyang's in 2015, attracted little trade, and independent analysts still question whether these venues have real liquidity
Published field
snippet · verbatim
Mapping
mapped · no interpretation or interpolation added by this passport
What the mapping says
Two independent accounts record that the earlier Guiyang exchange saw few transactions and failed to take off, and one quotes an analyst calling the new venue 'still very experimental, and there are many foundational challenges to solve, including standardizing data valuations'. A later independent report quotes a researcher attributing the earlier failures to weak standards, data quality and low trust. On adoption, a later independent report gives a national figure: only 283 companies had registered data assets by the end of 2024, out of nearly 60 million registered firms. Against that, the venue's cross-border zone was still operating in 2025 with over 30 international data merchants and nearly 200 listed products — activity, but at a scale that leaves the liquidity question open.
Caveat
No claim-specific caveat recorded

Sources carrying this claim

  1. Sixth Tone — Companies in Shanghai take first steps to trade data like stocks
  2. South China Morning Post — How to buy and sell data? Shanghai starts new exchange (25 Nov 2021)
  3. Rest of World — China's government now allows companies to register data as assets (26 Feb 2025)
  4. Pudong New Area government — SDE international zone, second anniversary (30 Apr 2025)
Claim 4 clm-dc5f4d648ffbf8de quantitative
Over 2,700 data products listed between November 2021 and mid-2024, and RMB 1.16 billion in data-product transactions in 2023 — Shanghai municipal government figures, not independently audited
Published field
impact · verbatim
Mapping
mapped · no interpretation or interpolation added by this passport
What the mapping says
The municipal statement is the carrying sentence: over 2,700 data products listed since November 2021 and 2023 data-product transaction value above RMB 1.16 billion. The state-owned assets regulator separately reports 2024 turnover past RMB 4 billion and over 4,500 listed products.
Caveat
All of it is operator-side reporting, not audited, and the entry labels it as such.

Sources carrying this claim

  1. Shanghai Municipal People's Government — first data-asset trading market begins trial operation at the SDE (29 Jun 2024)
  2. Shanghai Municipal State-owned Assets Supervision Commission — SDE 2024 turnover (25 Dec 2024)
Forensic record — source dossiers, gaps, hashes and the exact revision this page renders

This layer records what is known about each source, what is still missing, and the exact snapshot this page is rendering. A missing date, archive or hash stays visible as missing.

unreviewed Revision 2026-08-21-source-dates effective 2026-07-26 · created 2026-08-22

Awaiting operator and domain-expert review; publication of this revision implies neither.

sha256:cd099c8f6f94732a975430b5a30064c775f2a3176b2a5d44802dbf09c0c5b861
Revision history → Permanent version link → Machine-readable record → Evidence Constitution →
4
of 4 claims mapped
8
source dossiers
7
publication dates recorded
0
archives linked
0
exact locators
0
content captures hashed

Governance facts carried by the record

Operator
Shanghai Data Exchange Co., Ltd., a state-capital-led entity supervised by the Shanghai Municipal Commission of Economy and Informatization
Actor types
city-government
Funding model
public
Funding description
Not recorded
Cost
Not recorded
Ownership
Not recorded
Decision rights
Not recorded
Exit conditions
Not recorded

8 source dossiers

Xinhua — Shanghai Data Exchange inaugurated (25 Nov 2021) news.cn · 2 linked claims

Open original source ↗

Stable source ID
src-0c479664faa0cf44
Publisher
Name not classified · news.cn
Type / language
web-page · language not classified
Published
2021-11-25
Updated
Not recorded
Source last checked
No source-level check date
Record last verified
2026-07-26
Dossier created
2026-08-22
Retrieved copy
No local capture recorded
Archive
No archived copy linked
Content hash
No captured content hash
Locator
Open the recorded source note

Launch date; 20 data products listed on day one across eight sectors; 100 first-batch data merchants; describes the data product registration certificate enabling one product, one code.

Descriptive only — not page/paragraph exact
Claims linked
Shanghai Municipal People's Government — first data-asset trading market begins trial operation at the SDE (29 Jun 2024) shanghai.gov.cn · 1 linked claim

Open original source ↗

Stable source ID
src-0c095f28950c31df
Publisher
Name not classified · shanghai.gov.cn
Type / language
web-page · language not classified
Published
2024-06-29
Updated
Not recorded
Source last checked
No source-level check date
Record last verified
2026-07-26
Dossier created
2026-08-22
Retrieved copy
No local capture recorded
Archive
No archived copy linked
Content hash
No captured content hash
Locator
Open the recorded source note

Carrying sentence for the impact figure: over 2,700 data products listed since November 2021, and 2023 data-product transaction value above RMB 1.16 billion.

Descriptive only — not page/paragraph exact
Claims linked
Shanghai Municipal State-owned Assets Supervision Commission — SDE 2024 turnover (25 Dec 2024) gzw.sh.gov.cn · 1 linked claim

Open original source ↗

Stable source ID
src-c7d6e3501912df36
Publisher
Name not classified · gzw.sh.gov.cn
Type / language
web-page · language not classified
Published
2024-12-25
Updated
Not recorded
Source last checked
No source-level check date
Record last verified
2026-07-26
Dossier created
2026-08-22
Retrieved copy
No local capture recorded
Archive
No archived copy linked
Content hash
No captured content hash
Locator
Open the recorded source note

State-owned assets regulator reports 2024 turnover past RMB 4 billion and over 4,500 listed data products. Operator-side reporting, not audited.

Descriptive only — not page/paragraph exact
Claims linked
Cooley — Shanghai Data Exchange kicks off trading (legal analysis) cdp.cooley.com · 1 linked claim

Open original source ↗

Stable source ID
src-f5c50dafe242080f
Publisher
Name not classified · cdp.cooley.com
Type / language
web-page · language not classified
Published
2022-01-12
Updated
Not recorded
Source last checked
No source-level check date
Record last verified
2026-07-26
Dossier created
2026-08-22
Retrieved copy
No local capture recorded
Archive
No archived copy linked
Content hash
No captured content hash
Locator
Open the recorded source note

The exchange is a quasi-government entity; the Shanghai Data Regulation (effective 1 Jan 2022) implements PIPL, the Cybersecurity Law and the Data Security Law. Notes that guidance does not resolve data ownership or publish operative pricing rules.

Descriptive only — not page/paragraph exact
Claims linked
Sixth Tone — Companies in Shanghai take first steps to trade data like stocks sixthtone.com · 1 linked claim

Open original source ↗

Stable source ID
src-7a993b96411a08c1
Publisher
Name not classified · sixthtone.com
Type / language
web-page · language not classified
Published
2021-12-03
Updated
Not recorded
Source last checked
No source-level check date
Record last verified
2026-07-26
Dossier created
2026-08-22
Retrieved copy
No local capture recorded
Archive
No archived copy linked
Content hash
No captured content hash
Locator
Open the recorded source note

Independent counterweight. Guiyang's earlier exchange saw few transactions; quotes Trivium's Tom Nunlist that the venue is 'still very experimental, and there are many foundational challenges to solve, including standardizing data valuations'.

Descriptive only — not page/paragraph exact
Claims linked
South China Morning Post — How to buy and sell data? Shanghai starts new exchange (25 Nov 2021) scmp.com · 2 linked claims

Open original source ↗

Stable source ID
src-fd6c677d4fcc07e9
Publisher
Name not classified · scmp.com
Type / language
web-page · language not classified
Published
2021-11-25
Updated
Not recorded
Source last checked
No source-level check date
Record last verified
2026-07-26
Dossier created
2026-08-22
Retrieved copy
No local capture recorded
Archive
No archived copy linked
Content hash
No captured content hash
Locator
Open the recorded source note

Confirms the 20 launch products and the first trade, in which ICBC's Shanghai branch obtained State Grid data. States that Guiyang's 2015 exchange failed to take off.

Descriptive only — not page/paragraph exact
Claims linked
Rest of World — China's government now allows companies to register data as assets (26 Feb 2025) restofworld.org · 1 linked claim

Open original source ↗

Stable source ID
src-76ea46d9efc27bde
Publisher
Name not classified · restofworld.org
Type / language
web-page · language not classified
Published
2025-02-26
Updated
Not recorded
Source last checked
No source-level check date
Record last verified
2026-07-26
Dossier created
2026-08-22
Retrieved copy
No local capture recorded
Archive
No archived copy linked
Content hash
No captured content hash
Locator
Open the recorded source note

Independent counterweight on adoption: only 283 companies had registered data assets by end-2024, out of nearly 60 million registered firms. Quotes CIGI's Alex He that earlier exchanges failed on weak standards, data quality and low trust.

Descriptive only — not page/paragraph exact
Claims linked
Pudong New Area government — SDE international zone, second anniversary (30 Apr 2025) english.pudong.gov.cn · 1 linked claim

Open original source ↗

Stable source ID
src-ca4908bcbf905782
Publisher
Name not classified · english.pudong.gov.cn
Type / language
web-page · language not classified
Published
Not recorded
Updated
2025-04-30
Source last checked
No source-level check date
Record last verified
2026-07-26
Dossier created
2026-08-22
Retrieved copy
No local capture recorded
Archive
No archived copy linked
Content hash
No captured content hash
Locator
Open the recorded source note

Currency check: the cross-border zone was still operating in 2025 with over 30 international data merchants and nearly 200 listed products.

Descriptive only — not page/paragraph exact
Claims linked
Known limits of this passport
  • Publisher names and source languages have not yet been classified; domains are recorded without guessing.
  • Existing source notes are descriptive locators, not page- or paragraph-exact citations.
  • A missing archive, publication date or content hash is shown as null rather than inferred.
  • The project-level evidence grade ranks the strongest source in the entry; it is not a truth score for every claim.

Continue exploring

Compare this project

🇩🇰 City Data Exchange · Copenhagen Copenhagen's data marketplace shut in 2018 for want of buyers; Shanghai's state-backed exchange opened in 2021, liquidity still doubted. 🇪🇸 DECODE — Citizen-Owned Data Ecosystem · Barcelona Who owns data's value: Barcelona's DECODE tested citizen-controlled data (2017-19); Shanghai built a market to sell it (2021). 🇨🇳 Shanghai Public Data Open Platform & SODA Contest · Shanghai Same city, two doctrines: the municipal platform gives public data away in tiers; the exchange sells data products for money.

Explore the wider context

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📎 Cite this project

1001 Smart Cities (2026). “Shanghai Data Exchange” — Shanghai, China. The Smart City Atlas. https://1001smartcities.org/projects/shanghai-data-exchange/ (last verified 2026-07-26). Data: CC BY 4.0.

The underlying data is free to reuse with attribution — see the open data page.

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