Three transactions involving data products tailored for the valve industry in Yuhuan, a county-level city in Taizhou, were recently completed, as reported by local media.

These transactions mark the launch of data trading in Zhejiang's manufacturing sector and represent a significant advancement in the province's efforts to monetize industrial data.

Zhejiang Xiayun Technology Co Ltd developed the three data products, which were listed on the Zhejiang Big Data Trading Center on Dec 21, 2023. They were subsequently sold on Dec 29, 2023, Jan 3, 2024, and Jan 4, 2024, fetching prices of 8,000 yuan ($1,116.69), 9,000 yuan, and 10,000 yuan, respectively, as disclosed by Luo Xiaowen, the company's deputy general manager.

These data products are essential components of an industrial intelligence system created by Xiayun specifically for the valve industry. Since its launch in 2021, the digital platform has attracted registrations from over 1,000 companies, representing more than 60 percent of the valve enterprises in Yuhuan. Additionally, over 200 users have conducted transactions totaling 2.4 billion yuan through the platform.

Yuhuan is the largest production hub for valves in China. It is estimated that in 2023, the output value of the valve industry in the city topped 40 billion yuan, constituting roughly 25 percent of the national market share.

Li Jing, chief data officer of Zhejiang Big Data Trading Center Co Ltd, emphasized the significance of data as the latest factor of production, adding that the compliant assetization and advantageous sale of data will be more valued in the future, citing the related guidelines for strengthening data asset management released by the Ministry of Finance.

Building on its success in the valve industry, Yuhuan aims to expand the use of data in other sectors, striving to establish replicable practices to drive the data monetization reform campaign, stated Chen Xiaoyang, deputy director of the Yuhuan Bureau of Industry and Information Technology.