China's first data asset market was launched with the inauguration of the Shanghai Data Exchange on Friday, which is aimed to further develop the country's data asset trading system and boost its digital economy.
The market will foster five core functions of registration, valuation, trading, disclosure, and disposal.
So far, over 20 financial institutions have established cooperation with the Shanghai Data Exchange.
Back in February, Hou Junming, director of the Asset Management Department of the Ministry of Finance, said that "efforts are needed to strengthen the whole-process management of data assets by standardizing the registration, storage, use, disclosure and disposal procedures, and building a clear and complete management pathway."
He also promised to promote the capitalization of data assets in an orderly way to better leverage their economic and social value.
Shanghai launches China's first data asset market
China's box office earnings in the first half of 2024 surpassed 23.9 billion yuan (about 3.2 billion U.S. dollars), data from the China Movie Data Information Network showed Sunday.
Topping the chart was domestic comedy-drama "YOLO", which tells the story of an unemployed woman in her 30s who still lives with her parents until she meets a boxing coach who may change her life. The film raked in 3.46 billion yuan in box office earnings.
Other hits included comedy-dramas "Pegasus 2" and "Article 20", which pocketed 3.39 billion yuan and 2.45 billion yuan, respectively.
The country's movie industry kicked off the new year with a record high revenue of approximately 1.53 billion yuan (about 216 million U.S. dollars) for the three-day New Year's Day holiday. Box office revenue during the eight-day Spring Festival holiday exceeded 8 billion yuan (about 1.13 billion U.S. dollars), with domestic comedy movies accounting for over 97 percent of the total earnings.
The box office revenue for the summer movie season, which runs from June 1 to August 31, had reached 2 billion yuan (about 275 million U.S. dollars) by Saturday.
More Chinese productions are slated to hit the big screen this summer. Reports show that 88 movies have already been rounded up as of July 19.
China's box office hits 23.9 billion yuan in H1
