BABA(US:BABA) Shang Hai Zheng Quan Bao·2025-06-05 18:51Core Viewpoint - The construction of trusted data spaces will be a key driver for maximizing the value of data elements in the context of a new round of technological revolution and industrial transformation, serving as a crucial infrastructure for the development of the digital economy [1][2]. Group 1: Importance of Trusted Data Spaces - Trusted data spaces will become a critical infrastructure for the digital economy, facilitating the creation of a unified national data market and enabling the co-creation of data element value [1][2]. - By 2028, China aims to establish over 100 trusted data spaces, marking a significant growth opportunity in the construction of digital infrastructure and the activation of a trillion-yuan data element market [1][2][13]. Group 2: Current State and Development Conditions - China's policy framework for data space construction has been continuously improved, with practical innovations yielding initial results and industry standards being systematically advanced [7][8]. - The release of the "Trusted Data Space Development Action Plan (2024-2028)" signifies a shift from conceptual validation to large-scale implementation of data element circulation [2][8]. Group 3: Key Features of Trusted Data Spaces - Trusted data spaces are designed to ensure secure and reliable data circulation, enabling the sharing and utilization of data resources through a unified platform and standardized processes [4][5]. - They will support the efficient matching and integration of data supply and demand, fostering a new model of data sharing and co-creation that reduces trust costs in data circulation [4][5]. Group 4: Market Potential and Growth - The trusted data space market in China is projected to exceed 500 billion yuan by 2028, driving value across the upstream and downstream industrial chains [2][13]. - The data space market reached 4.02 billion yuan in 2023, with a year-on-year growth of 24.4%, indicating a solid market foundation and potential for continued expansion [13]. Group 5: Technological and Infrastructure Development - The construction of trusted data spaces will stimulate market opportunities for technologies such as privacy computing, blockchain, and data sandboxes, which are essential for data control and security [14][15]. - The blockchain market is expected to exceed 190 billion yuan by 2025, driven by the need for data rights and transaction security [14]. Group 6: Application Scenarios and Industry Impact - Trusted data spaces will create new digital economy growth points, with enterprise data spaces serving as the main arena for data flow, enhancing collaboration and data sharing among businesses [17][18]. - Industry-specific trusted data spaces will promote end-to-end data circulation and sharing, transforming traditional industry relationships into networked ecosystems [17][18].