Neudata, Shanghai Data Exchange team up to meet increasing Chinese demand for international data

LONDON, June 4, 2024 /PRNewswire/ -- Neudata and Shanghai Data Exchange have formed a strategic partnership, designed to facilitate business between international data vendors and China-based data buyers.

The announcement comes at a time when Chinese investors and corporations are increasingly looking to expand overseas, thereby increasing their need for data sources outside the country. By 2025, the overall size of China's data transaction market is estimated to reach USD 28.8 bn (RMB 204.6bn), up from USD 12.3bn (RMB 87.68bn) in 2022, according to LeadLeo Research Institute, a Frost & Sullivan sub-brand in China. The consulting firm projects that the market size could reach USD 72.6bn (RMB 515.59bn) by 2030.

"As a result of these global trends, international data vendors have a unique opportunity to build significant data-selling businesses in China," said Rado Lipuš, founder and CEO of Neudata. "Shanghai Data Exchange has an unparalleled reach among China-based data buyers, making it the perfect partner for the data vendors in our community that are looking to further explore expansion into China."

Data sellers that work with Neudata will now have priority access to list their data products on the Shanghai Data Exchange, opening up a network of more than 1,000 data buying firms. 

"The Shanghai Data Exchange will establish an effective cooperation mechanism for the two-way flow of data with overseas platforms through its strategic cooperation with Neudata," said Qifeng Tang, General Manager at Shanghai Data Exchange. "Leveraging Neudata's strengths, we will help international data service providers develop and improve their data products, while accessing a deep pool of data buyers from China."

Neudata and Shanghai Data Exchange will be sharing more about the partnership in an upcoming briefing call. Data owners and vendors interested in learning more about commercializing their data in China can pre-register at [email protected].

About Neudata:

Neudata provides actionable, unbiased market intelligence to buyers and sellers of alternative data. Combining human-powered data scouting services and a cutting-edge technology platform, Neudata's data expertise provides time- and money-saving insights for clients across the expanding alternative data ecosystem.

For more information about this partnership, contact [email protected].

About Shanghai Data Exchange:

The Shanghai Data Exchange's mission is to construct a data marketplace and promote the process of data assetization. The Exchange undertakes functions such as the innovation of data transfer and sharing systems and standards, infrastructure services, data product registration, and data product trading. The Shanghai Data Exchange is established under the guidance of the Shanghai Municipal People's Government.

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SOURCE Neudata