Core Insights - The concept of "digital empowerment" is gaining significant attention as digital technologies rapidly integrate into various sectors, transforming production methods, lifestyles, and social governance [1][2] Group 1: Digital Economy Growth - The digital economy in China is experiencing explosive growth, with the core industry value added expected to account for approximately 10% of GDP by 2024, and the number of 5G base stations reaching 4.251 million [1] - New innovative scenarios created by digital technologies are reshaping the future of production and life, including applications in digital agriculture, smart water management, and intelligent factories [1] Group 2: Challenges in Digital Empowerment - There are deep-seated issues that hinder the innovative application of digital technologies, such as the need for improved infrastructure and the existence of institutional barriers in the marketization of new data elements [2] - Key challenges include data rights confirmation, pricing, trading, and distribution, which require urgent solutions to unlock the potential of digital empowerment [2] Group 3: Technological Innovation and Reform - To fully harness the potential of digital empowerment, technological innovation and systemic reform are essential, focusing on strengthening technology, expanding application scenarios, and optimizing resource allocation [2][3] - Encouraging the establishment of various innovative platforms in the data field and promoting foundational research and original technology innovation are critical steps [2] Group 4: Resource Optimization - The government and market should leverage their respective advantages to enhance resource allocation, with the market playing a decisive role while the government provides guidance [3][4] - There is a need to construct a data element market and break down institutional barriers that restrict the smooth flow of resource elements [3] Group 5: Infrastructure Development - The construction of digital infrastructure should be prioritized, including the implementation of the "East Data West Computing" project and the development of diversified computing resources [4] - Enhancing communication network efficiency and expanding coverage of next-generation communication networks are vital for supporting digital services [4]

Core Insights - Data is recognized as the fifth production factor, characterized by non-competition, replicability, and unlimited growth potential, making its value extraction process more complex than traditional production factors [1] - The development of the data factor market relies heavily on a clear policy framework and implementation pathways, with local data trading institutions and data merchants emerging as key drivers [1] - The establishment of a robust supply and demand ecosystem is essential to achieve the goals of effective data utilization and security [1] Group 1: Industry Overview - The data factor market is currently in a critical phase driven by policies and practical explorations, with the establishment of the National Data Bureau marking a significant step towards a unified national data market [19][20] - By 2025, the market size is projected to exceed 200 billion, with a compound annual growth rate of over 25% [23] - The construction of a complete national data circulation system is planned over the next five years, aiming to facilitate the integration of data into the real economy and break data monopolies [27] Group 2: Evaluation of Service Providers - The selection of "Outstanding Service Providers in the Data Factor Industry" is based on comprehensive evaluations by iResearch and industry experts, focusing on the capabilities of data developers, operators, and IT technology providers [2][4] - The evaluation model includes four core dimensions: industry depth, product and technology capabilities, service capabilities, and ecosystem capabilities [4] - The top 30 data factor service providers are categorized into four types, reflecting their competitive strengths in various aspects [7] Group 3: Case Studies and Applications - Neusoft's City Data Value Empowerment Platform integrates data to enhance urban services in health, employment, and smart governance, creating a comprehensive service ecosystem [11][12] - The "Fujian Health Public Service Operation Platform" aims to provide a full lifecycle service system, while the "City Human Resources Development Platform" connects various stakeholders to promote employment and training [15] - The focus on high-quality data sets and specialized intelligent entities is expected to become mainstream, with ecosystem co-construction and scenario-building capabilities as core competitive advantages [20]

Core Insights - The 2025 "Data Element ×" competition in Guangdong concluded with 14 tracks, showcasing over 1,300 projects, with 223 teams awarded [1][2] - The competition highlighted three significant changes: increased participation, technological innovation, and enhanced incentives for project implementation [2][3] Group 1: Competition Overview - The competition was guided by the National Data Bureau and involved collaboration among various provincial departments, attracting projects from both local and external entities [1] - The event included a final award ceremony and a rallying meeting in Dongguan, attended by approximately 500 participants from various sectors [1] Group 2: Key Changes in the Competition - More participants were involved compared to 2024, with a 30% increase in projects, particularly emphasizing collaboration among the Guangdong-Hong Kong-Macao Greater Bay Area [2] - Technological innovations were prominent, with projects focusing on high-quality data sets for AI model training and exploring new paths for cross-border data compliance and utilization [2] - The competition established connections with other events to accelerate the transformation of outstanding projects into industrial momentum [2] Group 3: Future Directions and Expectations - The National Data Bureau emphasized the need for Guangdong to lead in data market prosperity, AI empowerment, and cross-border data integration [3] - The competition awarded 14 first prizes, 28 second prizes, and 70 third prizes, along with several special awards, with 28 projects set to represent Guangdong in the national finals [3] Group 4: Project Highlights and Initiatives - Projects showcased breakthroughs in technology, commercial value, practical applications, and potential for industry transformation [4] - The event featured project roadshows, results releases, and collaborative initiatives to build data industry clusters [4][6] - A joint initiative was launched to develop a trustworthy data space, enhancing data circulation and industry integration [5][6] Group 5: Strategic Focus Areas - Guangdong aims to enhance data supply, infrastructure, and security, while fostering a supportive policy environment for data-driven industry development [6][7] - The province is focusing on cultivating high-quality data sets, establishing standard systems, and creating efficient compliance mechanisms [6][7] - The government is actively promoting digital economy policies and training programs to nurture talent in the data sector [7][8]

电科网安（002268.SZ）10月10日在投资者互动平台表示，截至2025年半年度，数据安全业务占营业收 入的比重为3.62%。针对国内航空、建筑、电力等行业数据治理和数据安全防护需求，设计面向央企的 数据安全体系能力，推广央企数据安全统一防护解决方案，打造标杆项目，目前已服务于中国华电集 团、中国中铁等客户单位。 （记者 张明双） 每经AI快讯，有投资者在投资者互动平台提问：公司参与十余个数据安全国家、行业标准制定，且密 立方数据安全流通体系已为世纪华通提供服务。请问，数据安全业务当前的营收占比多少？在航空、铁 路等领域的重大项目落地进展如何，已实现的订单金额有多少？随着数据要素市场发展，预计该业务未 来3年的复合增长率能达到多少？ ...

Summary of Desheng Technology Conference Call Company Overview - Desheng Technology focuses on AI applications in various sectors including employment, healthcare, and government services, leveraging its self-developed AI models and platforms [2][4][28]. Key Industry Insights AI Applications - Desheng Technology has developed an AI foundation that supports multiple scenarios such as employment, healthcare, and government services, enhancing service delivery and operational efficiency [2][4][28]. - In healthcare, the company partnered with China UnionPay to create a seamless payment platform, which has been successfully implemented in Guangzhou [2][6][19]. - In the employment sector, Desheng Technology assists governments in building digital employment platforms, focusing on job matching and support for college graduates and flexible workers [2][4][6]. Data Element Market - The company is cautiously participating in the data element market, helping governments operate data exchanges while ensuring compliance with policies and data security [2][5][7][8]. - Desheng Technology has achieved a global certification for its data asset management system, allowing it to provide services across various industries [9]. Social Security Card Business - As the leading company in social security cards, Desheng Technology has issued over 500 million third-generation social security cards, with a potential for 800 million more [10]. - The company is focusing on building a service network for social security cards, collaborating with banks to enhance customer acquisition and service delivery [10][11]. Financial Performance and Strategy - The company is adjusting its strategy to address the decline in traditional business by establishing a grassroots service network and leveraging AI and big data technologies [11][12]. - Desheng Technology aims to achieve over 50% of its revenue from new business areas to offset declines in traditional sectors [22][24]. Management and Organizational Changes - Recent appointments of key management personnel with extensive experience in social security and AI are expected to drive innovation and operational improvements [23][26]. Future Directions - Desheng Technology plans to enhance its data service capabilities and expand into other industry sectors, aiming to create a comprehensive service ecosystem [30]. - The company is optimistic about achieving significant operational results by the end of 2025, particularly in the healthcare sector [19][20]. Additional Insights - The company emphasizes the importance of AI in optimizing internal management and external services, aiming to reduce operational costs and improve service efficiency [3][18]. - Desheng Technology is actively working on addressing social issues arising from the flexible employment market by collaborating with legal and training institutions to provide comprehensive services [17]. Conclusion - Desheng Technology is strategically positioned to leverage AI and data services across various sectors, with a strong focus on enhancing its operational capabilities and expanding its market presence. The company's proactive approach to management changes and market adaptation is expected to yield positive results in the coming years.

Core Insights - The Hainan Free Trade Port is attracting numerous domestic and international companies, particularly in the biopharmaceutical sector, which is identified as a strategic emerging industry for the province [1][2] - The "Lecang Research and Application - Haikou Production" model is supported by the Free Trade Port, allowing for the import of unlisted drugs and medical devices, facilitating real-world data usage for domestic registration and approval [2] Biopharmaceutical Industry - The Haikou National High-tech Zone's biopharmaceutical industry cluster is projected to achieve a production value of 21.41 billion yuan in 2024, accounting for 82.9% of Haikou's pharmaceutical output and 79.9% of Hainan's total pharmaceutical output [1] - As of September 2025, the Donghu High-tech Haikou Biomedicine City has registered 155 enterprises, including 1 Fortune 500 company and 3 foreign-funded enterprises, with a focus on digital healthcare, biopharmaceuticals, and medical devices [2] Policy Advantages - The Haikou National High-tech Zone offers various incentives such as R&D rewards and production subsidies, while the Free Trade Port provides zero tariffs and low tax rates on 356 imported goods [2] - Biopharmaceutical companies benefit from a reduced corporate income tax rate of 15%, and high-end talent is subject to a maximum personal income tax rate of 15% [2] Ecological Software Park Development - The Chengmai Hainan Ecological Software Park has evolved into a core carrier of Hainan's digital economy, with annual revenue exceeding 200 billion yuan, up from around 1 billion yuan 15 years ago [7] - The park aims to have over 15,000 resident enterprises by 2025, including major companies like Tencent and Baidu, and plans to achieve a revenue scale of 200 billion yuan by 2024 [7][8] Future Goals - By 2027, the park aims for the digital economy's core industry revenue to exceed 25% of total revenue, with 200 high-tech enterprises and 30 specialized and innovative enterprises [8] - The park is implementing a "3+2+1" digital economy innovation project to support the development of new growth drivers for the Hainan Free Trade Port [11]

Core Insights - The Hainan Ecological Software Park has transformed from generating approximately 1 billion yuan in annual revenue 15 years ago to over 200 billion yuan currently, driven by the Hainan Free Trade Port initiative set to fully operate by December 18, 2025 [2][3] - The park has become a core carrier of digital economy in Hainan, with over 15,000 companies, including major players like Tencent, Baidu, and Meituan, expected to achieve a revenue scale exceeding 200 billion yuan by 2024 [3] - The park aims for digital economy core industries to account for over 25% of total revenue by 2027, with targets of 200 high-tech enterprises, 30 specialized and innovative companies, and a talent pool of 30,000 [3][4] Policy and Support - In March 2025, Hainan Province issued opinions to support the reform and innovation of the Hainan Ecological Software Park, proposing policies such as preferential allocation of local government debt and support for establishing industrial investment funds [3] - The park is exploring data as a primary production factor, creating an integrated online and offline industrial operation platform, and implementing a "3+2+1" digital economy innovation project to foster new growth momentum for the Hainan Free Trade Port [4]

Core Insights - The data trading market in China is experiencing a significant increase in the number of data products launched, with a total of 477 products introduced in August, up by 162 from July [2] - Despite the increase in product offerings, key performance indicators have shown a decline, indicating structural issues within the market [2][5] - The "application potential" score has dropped sharply by 25.25% from July, reaching its lowest point in six months, highlighting a decrease in market interest and engagement [2][5] Market Performance - In August, the four core indicators of the data trading market saw varying degrees of decline, with "application potential" experiencing the most significant drop [2] - The "element density" score decreased from 4.25 to 4.04, while the "stability coefficient" slightly fell to 2.08 [2] - "Transparency" remains the weakest area, scoring only 1.50, which has been a long-term constraint on market development [2][4] Product Insights - The majority of high-scoring data products are concentrated in data sets and data interfaces, with 328 products in these categories, accounting for over 60% of the total [3] - "Data participation" scores remain high across institutions, while "data integration" scores have shown fluctuations, particularly declining in several exchanges [3] Governance and Compliance - The "stability coefficient" scores vary significantly among institutions, with Beijing and Shanghai leading in compliance [4] - The Zhengzhou Data Trading Center has the highest score in "data grading" but shows weaknesses in "data sources" and "usage constraints," indicating potential governance issues [4] - Overall, the market lacks effective regulations on key aspects such as data product limitations and cross-border circulation, necessitating a comprehensive data supervision framework [4] Application Potential - The decline in the "application potential" score is primarily driven by a significant drop in the "attention" metric, with several institutions reporting a halving of their scores [5] - The overall "reusability" scores have also decreased, reflecting insufficient motivation for optimizing data products [5] - The "update frequency" scores have remained stagnant for most institutions, indicating a lack of innovation and responsiveness in the data trading market [5]

Core Viewpoint - The State Council of China has approved a comprehensive reform pilot plan for market-oriented allocation of factors in ten regions, aiming to enhance the efficiency of resource allocation and promote a high-level socialist market economy [2][3]. Group 1: Pilot Regions and Implementation - The pilot regions include Beijing's urban sub-center, key cities in southern Jiangsu, Hangzhou-Ningbo-Wenzhou, Hefei metropolitan area, Fuzhou-Xiamen-Quanzhou, Zhengzhou, Changsha-Zhuzhou-Xiangtan, nine cities in the Guangdong-Hong Kong-Macao Greater Bay Area, Chongqing, and Chengdu [2][3]. - The implementation of the plan is expected to break down institutional barriers that hinder the free flow and efficient allocation of factors, ensuring equal legal protection for various ownership economies [2][3]. Group 2: Technology Factor Allocation - The plan emphasizes the need to streamline the technology transfer chain and promote the construction of an international technology innovation center in Beijing [6][7]. - It encourages the integration of technology and capital factors, supporting financial institutions to provide more financial products for technology transfer [7][8]. Group 3: Land Factor Allocation - The reform includes exploring land management system reforms and encouraging the use of long-term leases and flexible supply methods for industrial land [8][9]. - It aims to revitalize idle land and low-efficiency construction land through market-oriented methods, enhancing the efficiency of land use [9][10]. Group 4: Human Resource Flow - The plan seeks to facilitate the social mobility of labor and talent by broadening the recognition of foreign professional qualifications and supporting high-level talent recruitment [10][11]. - It aims to stimulate innovation and entrepreneurship among talents by allowing flexible compensation structures [10][11]. Group 5: Data Factor Circulation - The plan proposes to improve the public data sharing mechanism and expand the application scenarios for data development [11][12]. - It emphasizes the establishment of a data circulation and trading system, promoting the integration of public and social data [12][13]. Group 6: Capital Factor Support for the Real Economy - The plan aims to increase effective financial service supply while preventing risks, supporting the development of a digital inclusive finance database [13][14]. - It encourages higher levels of financial openness and cooperation, facilitating cross-border financial services [13][14]. Group 7: Resource and Environmental Market System - The plan includes constructing a green factor trading mechanism and exploring the realization of ecological product value [14][15]. - It aims to enhance the market-oriented allocation of resource factors while ensuring ecological protection [14][15]. Group 8: Overall Efficiency of Factor Allocation - The plan focuses on enhancing the collaborative allocation efficiency of various factors, particularly in emerging industries and services [15][16]. - It aims to create a fairer and more vibrant market environment by optimizing resource allocation efficiency and maximizing benefits [15][16].

Core Viewpoint - The establishment of Beijing Data Group marks a significant step in enhancing the city's data industry ecosystem and aims to leverage data as a new production factor to drive economic growth and improve public services [3][4][5]. Group 1: Establishment and Purpose - Beijing Data Group was officially launched on September 11 at the 2025 China International Service Trade Fair, symbolizing Beijing's commitment to building national data infrastructure and activating the value of public data resources [3][4]. - The group is expected to integrate, operate, and develop provincial data resources, facilitating efficient data flow and sharing to eliminate "data silos" [3][4]. Group 2: Development Goals - The group has set a "1+4+1" development framework, focusing on data supply, circulation, application, and security [5][6]. - It aims to create a public data resource platform, explore market-oriented paths for data elements, and ensure the safety and compliance of data circulation [5][6][7]. Group 3: Business Structure and Focus Areas - The core business of Beijing Data Group includes digitalization of government and enterprise operations, with a focus on key areas such as smart city governance and digital business environments [6][7]. - The group will also enhance data infrastructure, develop public data utilization platforms, and establish a national data trading center [7]. Group 4: Market Context and Trends - The establishment of data groups across various provinces indicates a rapid acceleration in the construction of the data element market, with a projected market size exceeding 200 billion yuan by 2025 [8][9]. - The growth of the data element market is driven by both market demand and policy guidance, aiming to improve resource allocation and foster new industries such as big data services and artificial intelligence [9].