Xing Huiqiang, professor of the Central University of Finance and Economics: Big data transactions face five major difficulties And the law should provide protection

21st Century Business Herald reporter Li Yumin, intern Zhao Yue, reported from Beijing

On October 23, 2021, the "Fifth National Intelligent Technology Rule of Law Forum" hosted by the Law School of Beijing Institute of Technology was held in Beijing.

Xing Huiqiang, a professor at the Law School of the Central University of Finance and Economics, said at the meeting that strict personal data protection is conducive to protecting the privacy and data security of individuals, but individual regulations overemphasize individual rights and ignore the rights and interests of data enterprises.

Xing Huiqiang said that the legislation related to big data currently has the Data Security Law and the Personal Information Protection Law, but there are still many legal gaps in the market-oriented allocation of the data element market.

On April 9, 2020, the Opinions on Building a More Perfect Factor Market-based Allocation System and Mechanism were issued, which for the first time listed data as five major factors alongside land, labor, capital and technology. This is the first central document on the market-oriented allocation of factors, which is an exciting news for the data market.

Article 33 of the Data Security Law also stipulates that "institutions engaged in data transaction intermediary services shall require the data provider to explain the source of the data, review the identities of both parties to the transaction, and retain audit and transaction records".

Xing Huiqiang believes that this article provides great convenience for data intermediary services, and does not stipulate more stringent obligations for data providers or operators, but only needs to inform the source, which facilitates the market-oriented allocation of data elements.

For the current situation of big data transactions, Xing Huiqiang found in the survey that nearly 20 licensed big data exchanges, most of which fell into a state of suspension, and only a few developed well.

He believes that the history of the development of China's big data exchanges can be divided into three stages, the first stage is from 2014 to 2016, which is the rise stage of China's big data exchanges. The second stage is from 2017 to 2019, which is the decline stage of China's big data exchanges. The third stage is 2020 to the present, which is the re-emergence stage of big data exchanges.

Xing Huiqiang believes that the difficulties still faced by China's big data exchanges are mainly in five aspects:

First, market factors. Black market trading in data is prevalent, and black market transactions buy data without personal consent and are cheaper, expelling white market transactions. Data oligarchies also disrupt the ecology of the market, and some owners of raw data have no incentive to participate in the market.

The second is the data itself. Data subjects are diverse, private and public coexist, and a simple piece of data involves information of many subjects. Data has the characteristics of strong replicability, and no one uses it to reduce its utility. Not only that, but the data is also dynamic, the quantity is constantly changing, and it can be derived for processing. Therefore, the particularity of the data itself is difficult to trade with traditional movable property.

The third is the standard factor. Although "data is the new oil in the era of big data", there are many standards for data, and it takes a long time to establish a unified standard.

Fourth, legal factors. The protection of personal information by law is conducive to reducing the illegal transactions disclosed, and legal responsibilities are stipulated for illegal sale, illegal provision and illegal acquisition of personal information. Law enforcement is able to crack down on the production of black and gray data, but enforcement costs are high. In addition, the flexible enforcement of law enforcement departments makes enterprises and practitioners engaged in data transactions insecure. The issue of data rights confirmation has not yet been resolved.

Fifth, technical factors. Nowadays, many technologies in the field of big data are not yet mature, such as blockchain technology and privacy computing technology.

Therefore, Xing Huiqiang suggested that we should comply with the requirements of the development of the era of big data, recognize the property rights and interests of natural persons in personal information, and establish and improve collection and transaction rules on the basis of classifying personal information, so as to promote the development, circulation, sharing and utilization of big data while better protecting individuals.

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