CHINA will accelerate digitalization and information sharing for tenders and bids from this year, according to officials from the National Development and Reform Commission (NDRC).

The nation’s top economic policy regulator will also work on providing a legal basis for the application of information technology to the industry, added Yang Jie, director of the department of laws and regulations of the NDRC.

A digitalized tendering system allows information exchange between platforms and across regions. In recent years, the NDRC has set up public service platforms in provinces and cities that encourage information exchange with local tender platforms. Information exchanged includes regulations, bidders’ information, costs and bid prices.

China Tendering and Bidding Public Service Platform, the central information hub for local public service platforms, had achieved 200 million data exchanges with 258 trading platforms by the end of 2017, said Ren Long, head of the China Tendering & Bidding Association, at an industry forum recently.

“Information sharing and data management benefit those making tenders and bids, and helps improve efficiency, cutting trading costs of tender platforms,” said Lin Nianxiu, deputy chairman of the NDRC.

(Xinhua)