A signing ceremony between Pudong Financial Data Port and Shanghai Pudong Software Park is held on Sept 16. [Photo/chinanews.com]

Pudong Financial Data Port singed a deal with Shanghai Pudong Software Park on Sept 16 to work together on the construction of Zhangjiang Science City.

The cooperation agreement is an important step for Pudong Financial Data Port, which launched in July. By focusing on the six major functions of payment, clearance, credit investigation, supervision, security, and setting up related standards, Pudong Financial Data Port will help explore the financial value of data at a faster pace, according to officials.

As a national software industry base, a national software export base, a national digital services export base, and a national new industrialization industry demonstration base, Shanghai Pudong Software Park has formed seven industrial clusters, including financial technology, mobile internet, as well as artificial intelligence.

The two sides will build a "financial data innovation and entrepreneurship base" to promote the digital transformation of the economy and the development of the financial technology industry in Pudong, said Xu Xin, director of the Pudong Science Technology and Economy Commission.

The Pudong Science Technology and Economy Commission will work on five major projects and nearly 50 key projects in the next three years to build Pudong into a competitive digital area with solid digital technology foundation, a rich digital industry cluster, and abundant digital elements, said Xu.

The strategic cooperation between Shanghai Pudong Software Park and Pudong Financial Data Port is expected to serve as a pilot for industrial integrated development in Pudong, said Yuan Tao, chairman of Zhangjiang Group.