The Shanghai Data Exchange and Bo Le Yu Ma (伯乐遇马), a human resources tech and digital solutions company, jointly unveiled the Nexus Data Market Pivot in Pudong New Area on Nov 13. This marks a new stage in unlocking the value of human resources data and the digital upgrading of employment services in China.

The center aims to promote the commercialization of human resources data and the digital transformation of employment services, enabling joint creation, shared development, and value generation from data, while further accelerating the digital transformation of the industry.

China's human resources industry is experiencing dual growth in scale and quality, and data transactions are becoming a critical engine for sector expansion. However, the ongoing mismatch between labor supply and demand remains a key challenge.

The newly established hub, as a benchmark data trading platform for the industry, will focus on resolving this supply-demand gap by providing systematic solutions. The two parties will clarify data ownership rights, build a comprehensive data-sharing network, and leverage data algorithms to match talent capability with job requirements efficiently.

Operating within the institutional framework and compliance foundation of the Shanghai Data Exchange, the center will streamline the entire process of human resources data from rights confirmation and data desensitization to transactions, making it a core driver for precise talent acquisition and efficient industrial allocation.

By cooperating with partners, the center promotes the transformation of data value into tangible outcomes, helping enterprises improve recruitment efficiency and reduce talent mismatch costs.

Furthermore, the center will provide multiple services, including increasing job opportunities for talent, enhancing precision in corporate hiring, lowering trial-and-error expenses, and establishing a closed-loop employment data system for universities and institutions to optimize training and education.

Weng Zhefeng, founder and CEO of Bo Le Yu Ma, said that the company will serve as a central nexus connecting talent supply and industry demand, sharing hundreds of billions in data-transaction gains emerging from a trillion-yuan industry with 74,000 sector partners.

The establishment of the center also represents a significant practice in applying data factor markets to a vertical field. Tang Qifeng, general manager of the Shanghai Data Exchange, emphasized that both parties will jointly advance the integration and innovative application of data elements in the human resources sector to empower employment and optimize human resource allocation.

Sources: Pudong New Area government, Shanghai Observer