Hangzhou is set to legislate data circulation and trading, addressing market demands for clear data rights. [Photo/WeChat account: gh_14279e8db0e1]

Hangzhou is set to legislate data circulation and trading, addressing market demands for clear data rights.

As data becomes a key production factor, the city aims to advance the marketization of data elements. Over the past two years, Hangzhou has launched initiatives like the China Data Valley platform and the Hangzhou Data Exchange.

Recently, the draft of the Hangzhou Data Circulation and Trading Promotion Ordinance was submitted for review, focusing on protecting the rights of market participants and stimulating the data industry. The legislation outlines data ownership, circulation services, and revenue distribution, encouraging innovation and safeguarding data security. Key measures include clarifying the responsibilities of data handlers and ensuring data privacy protections.

This pioneering legislation will support the growth of Hangzhou's digital economy and position the city as a leader in data governance.

Hangzhou is set to legislate data circulation and trading, addressing market demands for clear data rights. [Photo/WeChat account: gh_14279e8db0e1]