Harbin will build the world’s first graphite exchange center, aiming to promote the graphite industry and big data exchange.

The exchange center, built with investment from Zhongsheng Big Data Asset Management Co Ltd, will be developed into a high-end business center, integrating conference and catering facilities.

The center, covering an area of 8,000 square meters, is located in the Harbin Technological Innovation Park. A total of 320 million yuan ($48.2 million) has been invested into building the center, which will be a platform to exchange big data and property rights.

The center is aimed at promoting the development of the graphite industry as well as other relevant industries. Meanwhile, it will attract numerous well-known graphite enterprises.

Graphite is generally used as a material to resist fire and conduct electricity. The graphite reserves in Heilongjiang province account to about 70 percent of the total reserves across the country.

After deep processing, graphite becomes graphene, sometimes known as “black gold”. Scientists in the industry say that graphene will lead to a new technological and industrial revolution across the world.