聚焦全国一体化数据市场建设，关注数据要素产业投资机遇

Investment Rating - The report maintains a "Positive" investment rating for the software and services industry [8]. Core Insights - The National Data Bureau is focusing on building an open, shared, and secure national integrated data market, which is expected to enhance the value of data elements and invigorate the market [2][5]. - The construction of the national integrated data market is anticipated to accelerate data circulation and trading, leading to a reassessment of data element value across the entire industry chain [10]. Summary by Sections Industry Overview - The report highlights the need for a comprehensive data market to address structural issues such as incomplete industry chains and immature circulation mechanisms [10]. - The market size for data trading in China is projected to grow from 211.54 billion yuan in 2024 to 284.09 billion yuan in 2025, with an expected compound annual growth rate of 20.3% reaching over 715.9 billion yuan by 2030 [10]. Market Dynamics - The report notes that 53% of projects in the 2025 "Data Element ×" competition utilized public data, with over 43% acquiring data through authorized operation models [10]. - More than 50% of the final projects in the competition engaged in direct data trading, indicating a growing trend in data transactions among enterprises [10]. Investment Opportunities - The report suggests focusing on companies with vast data resources and those with strong capabilities in data processing, management, and analysis as potential investment opportunities [10].