Li Jing

1793367393@qq.com

SINCE beginning to pilot cross-border data trading last June, the Shenzhen Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone has seen a remarkable surge in transaction volume, which has expanded over 200-fold to reach 114 million yuan (US$15.76 million).

It was highlighted as one of the second batch of 16 exemplary cases in promoting unification of regulatory frameworks across cities of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), according to a press conference held by the Guangdong Provincial Government Information Office yesterday.

The 16 cases involve cross-border flow, seamless cross-border living, business environment, major platform construction, and other aspects of rule alignment, Zhu Wei, deputy director of Guangdong’s economic planner, told reporters at the conference.

In June 2023, the Shenzhen park of the Hetao zone unveiled a pilot scheme for cross-border data transactions, which aimed to explore the marketization of data elements by improving data exchange mechanisms, infrastructure, ecosystem, and alignment with international rules.

At its early stage, the trading volume reached 5 million yuan, according to Li Huilai, deputy director of the Shenzhen park’s development bureau.

Furthermore, the first Hong Kong data service provider has been introduced to the Shenzhen Data Exchange, which was established in December 2021 and officially launched Nov 15, 2022.

At the conference, Hetao was also commended for building an internationalized mechanism for technological innovation and promoting the efficient and convenient flow of innovative elements across borders.

Meanwhile, two other Shenzhen practices have also been listed as exemplary cases. One is a hospital review and accreditation system, established by the city government, that meets international standards.

The other is Qianhai piloting rules within the construction sector that align with those of Hong Kong and Macao.