GUIYANG -- China's first big data exchange in Guiyang, capital of Southwest China's Guizhou province, is aiming for an annual trading volume of over 10 billion yuan ($1.4 billion) by 2025, local authorities said on Thursday.

With such an impressive turnover, the exchange is expected to take the lead in data circulation transactions across the country, according to the provincial big data development administration bureau.

The Guiyang big data exchange came into operation in 2015. Currently, it supports data, computing power, algorithms and other diversified product trading and provides services, covering more than 20 industries, such as finance, transportation and meteorology.

As of Wednesday, 643 trading entities have set up business at the exchange, with a cumulative transaction volume of about 1.67 billion yuan.

Often dubbed China's big data hub, the mountainous province of Guizhou is China's first national big data comprehensive pilot zone. It promotes the big data industry as the backbone of its high-quality social and economic development.