Shanghai's first data tech State-owned enterprise launched

A State-owned enterprise (SOE) was officially launched in Shanghai on Thursday, the first central enterprise that focused on data technology.

Directly under the State-owned Assets Supervision and Administration Commission of the State Council, with the Chinese name China Shulian Logistics Information Co Ltd, it's a centrally-managed company with a registered capital of 10 billion yuan ($1.38 billion).

The company aims to create a national-level logistics big data platform by integrating and utilizing data across road, rail, waterway, aviation, and port sectors. It plans to streamline logistics, information flow and capital flow, leveraging digital technologies to improve operational efficiency and reduce overall logistics costs.