The Shanghai Data Exchange was unveiled in the metropolis' Pudong New Area on Nov 26 – with experts saying it represented the major ambitions in the field of the nation's financial and commercial capital.

They said East China's Shanghai city wants to be a role model for data trading, amid efforts to transform Pudong into a socialist modernization pioneer area, as required by the central authorities.

The Lin-gang Special Area, located in Shanghai, is widely said to stand at the forefront of the city's opening-up to international markets.

Plans are for the area to build 10 demonstration zones for collaborative innovation in cross-border industries.

It will also bring in 100 cross-border data support service businesses and leading enterprises in key fields to locate operations there, as well as establish an industry ecosystem projected to be valued at 100 billion yuan ($15.65 billion).

In addition, Lin-gang plans to build a national pilot demonstration area for cross-border data flows – which will aim to be a convenient international data hub that integrates industrial agglomeration, exhibitions and trade.