CFIC Introduction
Tu Guangshao, executive director of Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University, said that the process of capitalization of data elements faces a variety of challenges in the market, accounting, and law, and it is necessary to promote the inclusion of data assets in the table not only actively and continuously, but also prudently and steadily.
On July 24, the Data Asset Entry Practice Seminar was held in Shanghai, and the "Tracking Report on Data Asset Entry of Chinese Enterprises" (hereinafter referred to as the "Report") for the first quarter of 2024 was released on the spot. Tu Guangshao, executive director of Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University, said that the process of capitalization of data elements faces a variety of challenges in the market, accounting, and law, and it is necessary to promote the inclusion of data assets in the table not only actively and continuously, but also prudently and steadily.
The picture shows Tu Guangshao, executive director of Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University, delivering a speech
Data is a key factor of production in the digital economy and has become an important strategic resource for the country.
Tu Guangshao said that as one of the five factors of production, data elements are not simply placed alongside land, labor, capital, and technology factors, but more importantly, data elements can empower the other four elements.
"It is a key leap from data elementalization to data element assetization, but it also faces different tests of market, accounting, and legal barriers." Tu Guangshao said that with the value of data being widely recognized by the market and data assets being officially included in the scope of accounting treatment since January this year, China's data element capitalization process has achieved a major breakthrough and taken an important step. However, data assets still face practical challenges such as difficulty in confirming rights, pricing, and disposal.
This year is regarded by the industry as the "first year of data asset entry", and data assets are still in the initial stage of development, and some listed companies have become pathfinders. In this regard, Tu Guangshao believes that it is necessary not only to actively and continuously promote the inclusion of data assets in the table, but also to treat this process cautiously and steadily. Only in this way can the role of data assets continue to be highlighted and lay a solid foundation for the process of data assetization.
According to the report, listed companies are mostly cautious about the inclusion of data resources in the table, and the number of companies and the amount of data in the table are quite limited. At present, only 18 companies in the first quarter of the financial report disclosed data resources, involving a total amount of 103 million yuan, including intangible assets of 79 million yuan;
"With the continuous development of the digital economy and the continuous improvement of institutional rules, the type, scale and volume of data assets will continue to expand, gradually consolidating the basic support for the development of the digital economy. In the future, data assets have broad application prospects in financing, investment and other fields. Tu Guangshao summarized.
The seminar on data asset entry practice was jointly organized by Xinhua News Agency Shanghai Branch, China Economic Information Service Shanghai Headquarters, and Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University. Industry experts and business executives discussed the latest practices, theoretical frontiers and future trends of data asset entry, and contributed to the healthy development of the data element market.
Source of this article: Xinhua Finance
Authors: Wang Chong, Deng Kan
WeChat editor: Wang Ziqing
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