The city of Guiyang, capital of Guizhou province saw the opening of Global Big Data Exchange, China's first, on April 14, with its first transaction taking place on?the same day, when Tencent, China's largest and most used Internet service site, and Digital Guangdong Institute exchanging their data with JD.com, an online shopping service and the Centrin Data System.

This new exchange is said to have been opened with 50 million yuan ($8 million) by five companies, including Jusfoun Big Data and AsiaInfo to provide data services, including data transactions, clearance, payments, data property management, and financing. The data exchange market is currently valued at around one trillion yuan.

At the same time, a big data trader association has been founded in Guiyang by experts, scholars and more than?a hundred enterprises such as Alibaba, Sunning and Gome.

According to Chen Gang, the city's Party secretary, they will make every effort to promote the information and data openness in developing the big data business, who then adds that they will,"turn Guiyang into big data's leading city by creating a better environment for business start-ups and innovation."