Group 1 - The Trusted Data Space Development Alliance was established on April 29, 2025, to promote the construction of a national integrated data market and accelerate the practical promotion of trusted data space [1] - Digital China Holdings Limited and its subsidiary, Shenqi Digital Co., Ltd., were approved as members of the alliance, recognizing their achievements in data security, trusted circulation, and digital transformation [1][2] - The alliance aims to focus on industry pain points and practical needs, promoting the development of key results and cultivating significant benchmarks in trusted data space [1] Group 2 - Digital China Holdings has a unique first-mover advantage in the data element field, with its Yanyun DaaS product covering the entire data lifecycle [2] - The company has launched Yanyun Infinity in collaboration with Peking University, creating a value loop from "Data for AI" to "AI for Process" [2] - The company's trusted data space solutions have been applied in various sectors, including government, supply chain, and finance, and are actively promoting the establishment of trusted data space standards [2] Group 3 - The company initiated a logistics data open interconnection initiative with Beijing Jiaotong University and China Data Union Logistics to accelerate the release of data element value in the logistics sector [3] - Trusted data space is seen as a key lever for the marketization and valuation of data elements, providing a safer and more efficient infrastructure for market allocation [3] - Membership in the Trusted Data Space Development Alliance offers opportunities for expanding the data element market, enhancing ecological cooperation, and promoting industry standard formulation [3]

中经记者 蒋牧云 李晖 温州 北京报道 国家数据局开展数据基础设施建设先行先试已半年有余，各地推进成果如何？ 《中国经营报》记者近日在2025数据安全发展大会上获悉，作为试点城市的温州市的数场、可信数据空 间、数联网、数据元件、隐私保护计算、区块链等6项国家数据基础设施建设先行先试成果已投入使 用。 在采访中，多位参与试点建设的业内人士告诉记者，基于温州市设立的配套制度，以及技术应用，使得 在具体场景中不同行业、不同部门之间的数据得以打通，并释放数据价值。一定程度解决了数据交易 中"红线不清、场景不明"问题。 从温州实践来看，则是在设施架构上进行了价值探索。具体拆解温州此次投用试点，可将其看做一个三 层架构的综合数据基础设施——顶层为区域、全域的功能节点，是由温州市数据集团统建的管理平台以 及基础支撑平台，负责统一接口管理、身份登记、目录标识等。 中层为趣链科技、安恒信息等多家生态厂商共建的业务节点层面，分为数场流通利用平台、隐私保护计 算公共服务平台、区块链公共服务平台、公共数据授权平台、数据元件加工管理平台。 底层则为数据流通链，各厂商通过连接器接入，并通过连接器发布需求，获取数据产品。 作为中间层的关键 ...

最近全球资本市场的"风向标"突然变了！欧洲央行暗示年内降息，美联储通胀数据缓和，市场对6月暂停加息、 下半年降息的预期迅速升温。 这一变化直接带动了外资加速回流A股，哪些方向值得布局？ 欧洲央行"松口"，释放降息信号 5月22日，欧洲央行行长拉加德在讲话中明确表示："通胀已进入下降阶段"，市场将其解读为6月可能开启降息的 信号。 受此影响，欧元区债券收益率全线下跌，德国10年期国债收益率一度跌破2.4%，为近8个月来最低水平。 美联储通胀降温，但"鹰鸽博弈"持续 美国4月CPI同比上涨4.9%（前值5%），核心CPI录得5.5%，虽连续10个月回落，但仍高于美联储2%的目标。 资料来源：WIND、美国劳工部、长城证券产业金融研究院； 不过，市场更关注的是"薪资增速放缓"和"商品通胀降温"信号。芝商所数据显示：市场预计美联储6月维持利率 不变的概率升至80%，9月降息概率超过50%。 国际投资环境的变化直接带动了外资加速回流A股—— 北向资金"买买买"，单周净流入超300亿 截至5月20日当周，北向资金连续8天净买入，单周净流入达320亿元，创下年内新高。从持仓方向看，外资正从 传统的金融、能源板块转向科技与消 ...

我们平时上网的时候，都会碰到这样的场景：需要输入身份证号或者录入人脸进行实名认证。通常在几 秒内，页面就会反馈是否认证成功。而互联网服务提供商大多是商业机构，为何能认证个人数据？ "事实上，服务商并不能够直接认证个人数据，而是需要像我们这样的'中间人'，确保数据安全。"贵州 数据宝网络科技有限公司合伙人杨光应介绍，"以人脸识别为例，用户上传信息以后，会在我们的后台 自动生成代码并进行加密传输，与数据持有方的人脸代码进行比对，能迅速反馈是否一致。通常响应时 间在500毫秒以内，没有人为介入，人脸或身份数据不会以原始的样态进行传输。" 上述案例只是数据宝公司业务内容之一，这家致力于为国有数据资源方提供数据要素全生命周期管理服 务的企业，于2016年落户贵州贵安新区。当时，贵安新区数据产业处在萌芽阶段，数据应用生态尚未成 形。"我们看中的是贵安新区地处首个国家级大数据综合试验区的战略机遇。"杨光应介绍，经过近9年 的发展，公司已经成为国有数据资产增值运营服务商、数据要素市场化领军企业。 去年8月，数据宝公司负责的贵州首单旅游景区数据资产入表项目在兴义市万峰林景区启动。"通过对景 区数据资源进行盘点与梳理，经过合规确 ...

Core Insights - China aims to cultivate a robust data element industry chain, projecting a data industry scale of 7.5 trillion yuan by 2030 [1] - The country has established a comprehensive data industry chain, with a data production total of 41.06 zettabytes in 2024, reflecting a 25% year-on-year growth [1] - The number of data-related enterprises in China exceeds 190,000, with the current data industry scale surpassing 2 trillion yuan [1] Data Infrastructure Development - The National Data Bureau is planning to build a horizontally connected and vertically integrated data infrastructure system, aiming for a basic structure completion by 2029 [3] Public Data Sharing - Public data sharing is identified as a crucial breakthrough for the marketization of data elements, with a 7.5% increase in local public data platforms and a 7.1% increase in open data volume in 2024 [5] - High-quality datasets are essential for driving AI technology breakthroughs and reshaping the entire industry chain from R&D to commercial application [7] Data Quality and AI Integration - In Wenzhou, a pilot area for data marketization reform, a data security and compliance system has been established to facilitate large-scale data flow and create a data trading ecosystem [9] - The construction of high-quality datasets involves data collection, cleaning, annotation, and quality assessment, which are critical for AI model training [11] Data Annotation Industry - The data annotation industry in China has surpassed 8 billion yuan, entering a new phase of large-scale and standardized development [14] - In 2024, the number of companies developing or applying AI increased by 36%, with high-quality datasets growing by 27.4%, supporting AI training and application [15] Challenges and Future Directions - Despite advancements, challenges remain, including low data stock and production, inconsistent dataset quality, and low data utilization efficiency [17] - Ensuring data source reliability and enhancing data privacy and security are essential for future data development [19]

Core Insights - The digital economy in China is rapidly growing, with the core industries expected to account for about 10% of GDP by 2024 [1][2][19] - The core industries of the digital economy include digital product manufacturing, digital product services, digital technology applications, and data-driven industries [2][19] - In 2023, the added value of the digital economy's core industries reached 12.7555 trillion yuan, with significant contributions from various sectors [2][19] Industry Development - The number of enterprises in the digital economy core industries reached 4.5741 million by the end of November 2024, marking a 17.99% increase from the end of 2023 [3][19] - The growth in enterprise numbers reflects the acceleration of digital China construction and the increasing support of the digital economy for high-quality economic development [3][19] Technological Innovation - Technological innovation is a key driver for the development of the digital economy core industries, with significant advancements in areas such as 5G, artificial intelligence, and quantum computing [7][8] - In 2023, the number of invention patents authorized in the digital economy core industries reached 406,000, accounting for 45% of the total authorized patents in society [2][7] Infrastructure and Market Development - China has established the world's largest mobile communication and fiber broadband network, with 5G base stations reaching 4.251 million by the end of 2024 [4] - The online retail sales in China for 2024 are projected to be 15.5225 trillion yuan, reflecting a 7.2% increase from the previous year [4] Data Resource Utilization - The digital economy core industries have significantly improved the level of data resource development and utilization, providing advanced technology and tools for deeper data resource utilization [19] - The added value of the digital technology application industry was 5.56 trillion yuan in 2023, while the digital product manufacturing industry contributed 4.31 trillion yuan [19][20] Challenges and Recommendations - Despite the rapid growth, challenges remain, including a lack of specialized institutions, the need for improved technical levels, and the expansion of application ranges [20] - Recommendations include encouraging traditional enterprises to develop data businesses, enhancing collaboration among industry, academia, and research, and supporting enterprises in transitioning from business-driven to data-driven models [20]

Financial Performance and Goals - The company aims to turn losses into profits in 2025, focusing on improving operational performance and maintaining R&D advantages [2][11] - In Q1 2025, the company achieved contract amounts, total revenue, and collections that met its budget targets [11] - The company reported a loss in 2024 due to intensified industry competition, increased operational costs, and significant investments in AI application adaptation [9][11] Product Development and Innovation - The company has developed the AI application development platform, Sunwaylink, which targets various sectors including third-party testing, retail, and manufacturing [3][4] - As of now, the company holds 103 invention patents and 199 software copyrights, contributing to its strong R&D capabilities [4] - The company is exploring over 20 AI application scenarios to enhance business efficiency and customer experience [10][11] Market Strategy and Sales Channels - The company primarily uses direct sales through public tenders and is exploring new sales models to reduce dependency on tendering [6][10] - It emphasizes maintaining good communication with investors through various channels to enhance understanding and recognition of the company [5] - The company is developing differentiated marketing strategies tailored to various industry clients based on their specific needs and characteristics [20] Data Management and AI Integration - The company is actively involved in data asset management, aiming to enhance data quality and security while promoting data circulation [12][13] - It plans to launch a data element management platform in 2024, which is expected to meet the growing market demand [12] - The company is committed to ensuring that its AI technologies align closely with industry needs to improve application effectiveness [14] Industry Outlook and Growth Potential - The software industry in China is expected to experience significant growth, driven by advancements in digital economy, AI, big data, and IoT technologies [12] - The company anticipates a high growth rate in the data asset management market, supported by national policies and increasing demand [12][13] - The company aims to leverage its strengths in digital inspection and data management to capture new market opportunities [12][11]

Group 1 - The Ministry of Natural Resources will hold a press conference on May 16 to discuss the role of land spatial planning in promoting high-quality urban development [2] - The 2025 Data Security Development Conference will take place from May 16 to 18 in Zhejiang, focusing on marketization of data elements and data security driven by AI [3] - A total of 12 companies will have their restricted shares unlocked today, with a total unlock volume of 116 million shares, amounting to a market value of 2.325 billion yuan [4] Group 2 - 34 companies have disclosed their stock repurchase progress, with 4 companies announcing new repurchase plans and 17 companies having their plans approved by shareholders [5] - The People's Bank of China will have 77 billion yuan of 7-day reverse repos maturing today, with an operation rate of 1.4% [5] - Upcoming data releases include the annualized new housing starts in the US for April and the seasonally adjusted trade balance for the Eurozone for March [6]

Core Insights - The Northern Big Data Trading Center (referred to as "Beishu") has officially launched a points data trading section, enhancing its platform capabilities and driving innovation in the national data factor market [1] Group 1: Innovative Model - Beishu has developed the first domestic trading platform for consumer points data, named "Shufen Tong," utilizing cutting-edge technologies such as blockchain and smart contracts [2] - The platform allows users to freely transfer idle points through a "real consumption + smart listing" model, ensuring transparent and trustworthy transactions, thus creating a virtuous cycle of "consumption - points - trading - re-consumption - data value enhancement" [2] - The brand "Jindian Yichong," operated by Beijing Jindian Chuangzhi Technology Co., Ltd., is the first practitioner of this cycle, focusing on building a nationwide intelligent charging network for electric bicycles and cars, serving over 1.4 million customers [2] - The trading volume of "source power value" has exceeded 80,000, demonstrating market vitality in the circulation of consumer data [2] Group 2: Ecological Collaboration - Beishu plans to collaborate with operators, financial institutions, and consumer merchants to deeply integrate points trading with derived services from consumer data [3] - By activating points circulation, high-value data products such as consumer behavior analysis and regional consumption trend forecasting will be developed to empower precise decision-making for enterprises [3] - Beishu aims to expand multi-industry cooperation and explore innovative scenarios for points consumption data applications and data trusts, establishing a unified national market for consumer data [3] - The company is committed to contributing to the construction of a digital China with its "Tianjin solution" by leveraging technology and compliance for high-quality development [3]

Core Viewpoint - The restructuring and optimization of data trading institutions in China is progressing steadily, driven by multiple factors including policy, market conditions, and internal development needs [3]. Group 1: Policy Influence - The national strategic planning for the digital economy is promoting the standardization and improvement of the data factor market, as highlighted by the approval of the decision to cultivate a unified national technology and data market [1]. - The restructuring of local data trading institutions is necessary to align with national strategic directions and integrate into a nationwide data market system [1]. Group 2: Market Conditions - The current construction of data trading venues is diverse, including government-led, enterprise-based, and independent operations, which, while stimulating market vitality, has led to ambiguities in the public service and profit-driven goals of institutions [2]. - The integration and restructuring of data trading institutions are seen as key to resolving deep-seated contradictions, enabling a low-cost, high-efficiency trading environment and establishing a scientific data pricing mechanism [2]. Group 3: Internal Development - The competition landscape of the data trading industry is being reshaped by technological advancements and security demands, with emerging technologies like AI and blockchain requiring higher standards for technical architecture and security capabilities [2]. - Through restructuring, the industry can concentrate technical resources to develop unified data trading technology standards and security systems, facilitating a comprehensive upgrade from data rights confirmation to risk management [2]. Group 4: Differentiated Development - The optimization and restructuring process is not merely about homogenization; data trading institutions must leverage their existing product characteristics and advantages to achieve differentiated development [3]. - Institutions are encouraged to accurately position their strengths and develop unique data products and services, contributing to a rich and collaborative data trading market system [3].