(Yicai) Jan. 16 -- As home to the world's largest port, Shanghai needs to leverage its extensive port and shipping data resources for commercial purposes, an industry representative said at the on-going annual meeting of the city’s legislative body.

Shanghai should draw on domestic and international experience in the use of shipping and trade data, and promote the interconnection and integration of shipping, port, and trade enterprises and institutions to successfully commercialize port and shipping big data, said Ding Songbing, general manager of strategy and research at Shanghai International Port Group.

Ding made the proposal during a discussion of the city government’s 2024 work report at the Shanghai Municipal People's Congress, which runs through Jan. 18.

To illustrate the consequences of underusing data resources, he cited the example of the Container Port Performance Index in the international market. This index combines data on vessel berthing and operational efficiency from more than 500 terminals worldwide, including from Shanghai’s own Yangshan Deep-Water Port and Waigaoqiao Port, Ding said.

He pointed out that it is the international shipping companies that dock at Shanghai's two ports that provide its data to the CPPI’s compiler. Both the compiler and shippers have commercially developed Shanghai's data, while the city’s port operators not only fail to derive a financial benefit from their own data but even have to buy this database, which includes their own data, from the index compiler.

Ding said that as Chinese companies attach great importance to data security they have been unwilling to grant access to third parties, which is the main reason why it has not been unlocked to commercial advantage.

As "trade is a two-way street, many data transactions involve both parties having access to the same information,” he noted. "Even if we do not sell the data, the other party will.” So Shanghai should learn from international players in areas such as making data anonymous and packaged, in order to benefit financially, Ding concluded.

Editor: Futura Costaglione