Jobseekers In China Can Now Make Profits By Sharing Their Resumes
- tech360.tv
- May 3, 2023
- 2 min read
Updated: Jan 4, 2024
The state-backed Guiyang Global Big Data Exchange has facilitated the first sale of personal data in China.
The transaction opens the door for jobseekers to potentially earn a share of the profits generated by the sale of data based on their resumes.
According to SCMP, Hao Huo, a local tech firm, collects users' resumes and processes the information into a "data product" that guarantees privacy through confidential computing technology. The firm then lists the data product on the Guiyang data exchange for employers to purchase, after obtaining legal advice from a law firm.
Chinese authorities view "data" as another production factor, akin to land and labour, and are developing a market for it. Personal data is sensitive as it falls under China's strict personal information protection law.
The Guiyang data exchange has generated modest revenue so far, with only 460 merchants trading data on the exchange. The exchange has announced that individuals who share their resumes will receive a share of the earnings, giving jobseekers the opportunity to earn money while searching for employment.
China has 48 local data exchanges similar to Guiyang's, with eight more in development, according to a white paper published by the state-run think tank China Academy of Information and Communications Technology. Although significant penalties have been introduced for data security and privacy violations, the Chinese government is creating a commercial market for data.
While data exchanges face fundamental challenges in China, such as a lack of clear definitions for data ownership and related rights, and the expense of adopting technologies like confidential computing, the Chinese government is pushing ahead with its plans for data as part of its strategy to boost the digital economy.
The Guiyang Global Big Data Exchange has facilitated the first sale of personal data in China.
The exchange has generated modest revenue, with only 460 merchants trading data on the platform.
The Chinese government views "data" as another production factor and is developing a commercial market for it.
The lack of clear definitions for data ownership and related rights and the expense of adopting necessary technologies pose challenges for data exchanges in China.
