Source: Economic Daily
For a period of time, Zhejiang, Guizhou, Guangxi, Shandong and other places have intensively introduced data element market policies and measures, striving to promote data sharing and circulation and improve the efficiency and value of data utilization by improving the development mechanism of the data element market. What are the highlights of the policy initiatives introduced in various places? What benefits will it bring to data holders, intermediary service providers, etc.? To continue to promote the construction of the data element market, what aspects should we continue to make efforts?
Accelerate system design
As a new factor of production, data is of great significance to promote the development of the digital economy. At the end of 2022, the Central Committee of the Communist Party of China and the State Council issued the "Opinions on Building a Data Basic System to Better Play the Role of Data Elements" (hereinafter referred to as the "Data 20 Articles"), systematically laying out the data basic system such as the data property rights system, the circulation and trading system, the income distribution system, and the security governance system.
From 2023 to the present, all localities have thoroughly implemented the strategic deployment of the "20 Data Measures", explored and formulated data-related systems, and achieved initial results.
Zhejiang Province has tried to improve data rights confirmation through standardized methods. According to public information, the "Data Asset Confirmation Work Guidelines" formulated by Zhejiang have been implemented on December 5, 2023. This is the first local data asset recognition standard in China, which fills the gap in data asset recognition standards and provides standard technical support for improving the construction of data asset management mechanism and the reform of market-oriented allocation of data elements.
The Guizhou Provincial Bureau of Big Data issued the "Guizhou Provincial Measures for the Management of Data Element Registration Services (Trial)" to promote the orderly development of data element registration service activities. This will help standardize the data element registration service, protect the legitimate rights and interests of the registration subject, and activate the potential of the data element.
The Shandong Provincial Government also said that it will further standardize data circulation and transactions, and expand the path of data resource assetization to dredge the data circulation blockage. This move improves data ownership confirmation through factor registration management, establishes a sound data element management system, and provides strong support for further optimizing market allocation.
Fujian has established departmental data sharing channels, public data open development channels, and data circulation and trading channels to meet various data circulation needs, and at the same time strengthen security supervision to ensure the efficient and safe circulation of massive data.
Previously, Guangxi issued the "Interim Measures for the Management of the Market-oriented Development of Data Elements in Guangxi", which clearly stated that data processors are encouraged to carry out data transactions in lawfully established data trading venues, cultivate and expand on-site transactions, support data processors to carry out over-the-counter data circulation and trading activities in accordance with laws and regulations, establish and improve over-the-counter trading rules, and standardize the management of over-the-counter transactions.
Policies in various localities have embodied the main tone of promoting development. In terms of content, local policies and regulations are based on the framework of the "20 Data Articles" and combined with the development practices of various regions, clarifying the core issues in the development of the data element market, covering the refinement of data rights confirmation, data element registration, transaction rules, etc.
Increase the value of your data
What impact will the acceleration of the construction of the data element market have on data holders, intermediary service providers, and related industries?
There will be more opportunities for businesses with a lot of data and advanced technology. Through the data element market, these data holders can use and trade data more efficiently, which can increase the value of data.
It will also have a positive impact on the relevant digital technology R&D and technology enterprises that ensure data circulation, especially for enterprises in the big data industry and artificial intelligence industry at the data application level. At the same time, the acceleration of the construction of the data element market will boost the market development of data-supported computing power and algorithms, including intelligent chips for terminal computing power and intelligent computing centers and data centers for cloud computing power, which will benefit the ICT equipment industry in the future. Third-party professional institutions that provide matchmaking, custody, brokerage, settlement, evaluation, guarantee and other services for both data supply and demand sides will also have better room for development.
In addition, with the gradual maturity of the data element market, the digital demand for public services, consumption upgrading, and social governance is also increasing, providing a broad space and demand orientation for digital transformation in various fields. For example, by building smart cities, smart villages, smart transportation and other projects, we can meet the people's needs for convenience, efficiency, safety and comfort, green and low-carbon.
Break the bottleneck of development
At present, the mainland data element market is in a stage of rapid development. However, problems such as difficulty in confirming rights and difficulties in circulation and trading are still relatively prominent. How to solve the relevant development bottlenecks?
Issued implementation rules clarifying issues such as the holding, using, and operating rights of factor market data. At present, there are differences in the perception of data ownership, and there is no consensus industry practice for data rights confirmation. For enterprises, how to confirm and use data rights is the most concerned issue. It is the current trend to promote the establishment of mechanisms for the authorization and operation of public data, and to promote the "joint use and sharing of benefits" of non-public data in a market-oriented manner.
Policies such as clarifying the implementation entities, market entry standards, compliance mechanisms, security supervision, value and benefit distribution, and incentive measures related to public data have been introduced. The transformation of data into production factors requires the establishment of a mechanism for authorizing the operation of public data, but how to turn public data into tradable data products and services requires further clarification of relevant subjects, standards, mechanisms, and incentive measures, such as the establishment of special incentive funds and the establishment of a data asset evaluation index system.
Improve specific systems for data security protection. As the value of data becomes more prominent, the number of infringement incidents and illegal activities surrounding data has increased significantly. The mainland's data security law only makes principled provisions on key systems such as data classification and grading, important data catalogs, data security risk assessment, and cross-border data flow management, and it is urgent to speed up the formulation of supporting implementation rules.
Accelerate the construction of a national-level data exchange. In addition to building a basic data system, data trading venues in various places have also been put into operation. The industry believes that if data flows around the region, it may lead to the emergence of "data islands". In terms of trading platforms, there is no mature data collection, processing, analysis and application chain, and it is difficult to effectively integrate resources between different data trading platforms. To this end, it is the only way to build a large national market with consistent relevant rules and a unified system.
Establish infrastructure related to the circulation of data elements. Relying on the national hub node of the national integrated computing power network, using blockchain and data sandbox, etc., to serve the national unified market, build a unified national safe and reliable data element circulation infrastructure, and reduce transaction costs. (Source of this article: Economic Daily Author: Hu Han)