The Guiyang big data exchange, China's first of its kind, has seen its cumulative transaction value exceeding 5.4 billion yuan (about $757.37 million) since its inception.

Launched in 2015 in Guiyang, the capital of southwest China's Guizhou Province, the exchange has grown to include over 1,000 trading entities.

This achievement was announced during the ongoing China International Big Data Industry Expo in Guiyang.

The exchange supports a wide range of trading products, including data, computing power and algorithms. It is aiming for an annual trading value of over 10 billion yuan by 2025.

Often dubbed China's big data hub, the mountainous province of Guizhou is China's first national big data comprehensive pilot zone. It promotes the big data industry as the backbone of its high-quality social and economic development.

Currently, 47 major data centers are either under construction or operational across this province.

In 2023, Guizhou's GDP surpassed 2 trillion yuan, with the digital economy accounting for approximately 42 percent of the total. The province aims to further increase the digital economy's share -- targeting a scale of over 1 trillion yuan.

"We are rapidly building a modern industrial system led by the digital economy," said Jing Yaping, director of the provincial big data development authority, who added that Guizhou is committed to leveraging digital technologies to transform traditional industries, with the goal of enhancing productivity and positioning itself as a national leader in integrating digital and real economies.

The progress in Guizhou reflects broader trends in China, where digital infrastructure has greatly improved. The scale of computing power in the country reached 230 EFLOPS in 2023, ranking second in the world.