Data traffic park a new phase of development
Shanxi Data Traffic Ecology Park is China's first park for data traffic-related industries. [Photo by Liu Ruiqiang for China Daily]
Shanxi province is pinning its hopes on digital technologies to enable high-quality development, cultivate emerging sectors and upgrade traditional industries.
A recent move in this direction was the opening of China's first data traffic park, which was founded on Oct 19 in the Shanxi Transformation and Comprehensive Reform Demonstration Area.
The establishment, officially called Shanxi Data Traffic Ecology Park, is run by the Shanxi New Social Stratum Association, Shanxi Association of Digital Industries and the park's administrative committee.
Data traffic refers to the amount of data moving across a network at a given time. The correct organization of data traffic helps to ensure the quality of service in a given network. A number of new industries, including e-commerce, livestreams and esports, have been developed on the back of data-traffic resources, according to industry insiders.
They said data-traffic resources are crucial to upgrade traditional industries such as logistics, education and healthcare.
In the park, authorities plan to create an industrial ecology that encompasses providers of data-traffic resources, industries empowered by data traffic and a pool of professionals in data-traffic-related industries.
According to He Han, general manager of the park, the park aims to create a favorable business environment by providing cost-effective data-traffic services and incentives to startups.
To date, more than 70 companies from Shanxi and the rest of China have begun operating in park. These include three listed companies and three unicorns. Unicorns are companies with market value of more than $1 billion within 10 years of their establishment.
Among the unicorns, Jiangsu-based Full Truck Alliance is a leading online commercial freight platform in China. It is building its digital logistics headquarters for Central and West China in the park.
He predicted that the total number of businesses in the park will surpass 100 by the end of this year. The companies' combined business revenue is expected to reach 10 billion yuan ($1.56 billion).
Liu Ruiqiang contributed to this story.