closure
In April 2025, the Institute for Financial Research at The Hong Kong University of Science and Technology (hereinafter, “HKUST Institute for Financial Research”) and Shanghai Data Exchange Co., Ltd. (hereinafter, “Shanghai Data Exchange”) formally signed a Memorandum of Understanding (MOU) to deepen their strategic cooperation in the fields of the digital economy and data as a factor of production (“data elements”), and to jointly promote the deep integration of academic research and industry practice. Shanghai Data Exchange, a national-level data exchange platform under the guidance of the Shanghai Municipal People’s Government, is dedicated to building the market for data elements and driving institutional innovation. Leveraging Hong Kong’s advantages as an international financial center and Shanghai’s core role as the national hub for data elements, the collaboration will explore innovative pathways for the market-based allocation of data elements.
This strategic cooperation integrates the HKUST Institute for Financial Research’s notable strengths as an international academic platform in interdisciplinary research with Shanghai Data Exchange’s extensive experience as a national platform in developing the data‑element market and advancing policy innovation. Building on complementary strengths, the partners will focus on two core directions: On academic exchange, the two sides plan to regularly host high‑level forums and seminars centered on the digital economy and the development of data elements, creating a professional platform for deep dialogue between academia and industry and fostering the organic integration of cutting‑edge theory and practical application. In research and innovation, they will conduct systematic, dedicated studies in data and digital assets. By establishing mechanisms for collaborative research at home and abroad, the collaboration will provide decision‑making references—with both theoretical depth and practical value—for policy formulation and the development of industry standards.
Combining the HKUST Institute for Financial Research’s international research platform with Shanghai Data Exchange’s practical experience in data circulation, the partnership aims to drive innovative development of the data‑element market and to support coordinated connectivity between the Guangdong–Hong Kong–Macao Greater Bay Area and the Yangtze River Delta region. Against the backdrop of the rapidly developing global digital economy, the collaboration is of particular significance. The strong alliance between Hong Kong, an international financial center, and Shanghai, China’s hub for data elements, will offer important practical models for institutional innovation in areas such as cross‑border data flows and the internationalization of data assets. The parties will also jointly participate in formulating technical standards related to data elements, helping to build a standards system with international influence. Through the integration of resources, the collaboration will cultivate a data‑element ecosystem that brings together academic institutions, financial institutions, and technology enterprises.
