Embodiments provide a data exchange method, a terminal device, and a network device. In accordance with the disclosure, a terminal device can obtain resource information for communicating with another terminal device. The resource information can indicate a time-frequency resource and an antenna port corresponding to an antenna polarization direction. The terminal device can then send scheduling information and data information to the another terminal device using the time-frequency resource and the antenna polarization direction. Time-frequency resources and/or antenna polarization directions used by any two terminal devices to send scheduling information and data information to other terminal devices can be different. In this way, terminal devices using different transmit antenna ports can use a same time-frequency resource, and an optional dimension of resource information is increased, thereby increasing an overall system communication capacity.