Core Viewpoint - The establishment of a data property registration system is a significant step towards implementing data property rights, which is expected to enhance data circulation and unlock the value of data elements, thereby supporting the development of the domestic AI industry and facilitating data's role in international markets [1][2]. Group 1: Data Property Registration System - The National Data Bureau is set to further research and innovate a registration system tailored to data characteristics, drawing from experiences in other registration systems [1][2]. - A meeting was held on January 7, 2026, led by Liu Liehong, the Secretary of the Party Group and Director of the National Data Bureau, to discuss the data property registration system [1]. Group 2: AI Development and Data Empowerment - The National Data Bureau aims to implement a high-quality data set construction action plan by 2026, focusing on six key actions to enhance data quality and application, ultimately creating benchmark data sets with international influence [2]. - The effective support of large data sets is crucial for AI training and reasoning, positioning data elements as a significant advantage for domestic AI development [2]. Group 3: Data's Role in International Markets - Data is foundational for AI development, and the construction of effective data sets will significantly aid domestic AI growth and international value creation [3]. - The Beijing International Big Data Exchange is actively exploring cross-border data flow, promoting the export of high-value domestic data products and facilitating the two-way flow of data [4]. Group 4: Investment Opportunities - Companies with state-owned backgrounds in the data element sector, such as Inspur Information, Yihua Lu, and Taiji Co., are recommended for attention [5]. - Focus on data development and processing firms like Haitai Ruisheng and Sanwei Tiandi, as well as tool companies such as Shanghai Steel Union and Tonghuashun [5]. - Opportunities in data export, particularly for leading large models, should be monitored, including companies like MINIMAX-WP and Zhiyu [5].

Group 1 - The core viewpoint of the article highlights the establishment of a data property registration platform in Fujian Province, which allows for seamless verification of data ownership through the "Minzhengtong" app, enhancing confidence in data transactions and financing [1][2] - The Fujian data property registration platform, operated by the Fujian Big Data Exchange, has issued the province's first data property registration certificate, facilitating a one-stop registration service for data property and data intellectual property [1][2] - The integration of data property registration into core enterprise qualifications is emphasized, as it can enhance creditworthiness in financing and bidding scenarios [1] Group 2 - Fujian Big Data Exchange is actively exploring the establishment of a closed-loop system for data property registration, ensuring that certificate information is synchronized with government applications, thereby increasing the recognition of certificate validity [2] - The "Minzhengtong" app serves as a high-frequency platform for business services, with over 730,000 registered users and more than 13.48 million visits, allowing real-time queries of data property registration information [2] - The Fujian Province is accelerating the development of a comprehensive service ecosystem for data property, aiming to expand the application boundaries of data property certificates and enable more enterprises to benefit from the value of data elements [3]

Core Insights - Data is increasingly recognized as a new production factor, driving high-quality development across various sectors including production, distribution, circulation, consumption, and social service management [1] - The 2025 Data Element Development Conference held in Hangzhou highlighted the importance of data asset management and the establishment of a market-oriented data element configuration reform [1] Group 1: Data Element Development - Hangzhou has established a "Three Data One Chain+" framework, achieving national-level interconnectivity verification [1] - The city has been selected for national pilot projects, including a trusted data space for marine resource environment and a model scenario for data circulation security governance [1] - The city is pioneering data property rights registration to clarify ownership boundaries, addressing long-standing issues in data circulation and trading [1] Group 2: Financial Innovation and Data Assets - The issuance of certificates with unified coding acts as a "legal ID" for data, reducing trust costs among business entities and ensuring compliance in subsequent transactions [2] - Hangzhou's Lin'an Smart City Development Company received the first data property rights registration certificate, enabling it to secure a 5 million yuan loan from Agricultural Bank of China [2] - The introduction of data property rights certificates as a core credit enhancement measure is seen as a breakthrough in realizing the financial value of data elements, particularly for technology-driven, asset-light enterprises [2] Group 3: Promoting Data Flow and Economic Empowerment - The Hangzhou Data Resource Management Bureau aims to construct "China Data Valley" to eliminate data barriers and promote the efficient flow of data elements in a unified market [3] - The initiative is expected to stimulate the multiplier effect of data elements, enhancing their role in empowering the development of the real economy [3]

Core Viewpoint - The Fourth Global Digital Trade Expo highlighted the increasing importance of AI and big data in transforming trade, with significant investment and procurement agreements being made during the event [4]. Group 1: Investment and Procurement - The expo achieved a total investment and trade intention signing amount of 161.98 billion yuan, with procurement amounting to 30.9 billion yuan, doubling compared to the previous year [4]. - AI, cultural exports, and cross-border e-commerce accounted for 82% of the orders made during the expo [4]. Group 2: AI and Technology in Trade - Major companies like Alibaba, Amazon, and others showcased their new AI projects, indicating that AI and big data are crucial for gaining market advantages and future planning [5]. - 3D AI technology has enabled cross-border e-commerce companies to reduce costs by half while obtaining high-quality visual materials, with over 10,000 virtual studios and 300,000 accessories established [5]. - The "Wuchan Tong" digital trade platform offers AI product selection tools and has facilitated over 360 million USD in services in the first half of the year [6]. Group 3: Data Utilization - Data is described as the "new oil" of digital trade, serving as both a production factor and a growth engine [8]. - The establishment of data property rights, including ownership and usage rights, is essential for promoting data circulation and maximizing its value [8]. Group 4: Cultural Exports - The cultural "new three samples" consisting of online literature, films, and games attracted significant attention, with AI technologies aiding their international expansion [9]. - The "Guose" model developed by Huace Film and TV can quickly extract and translate content from Chinese films into target languages, addressing the translation needs for overseas markets [9]. Group 5: Cross-Border Payment Solutions - Cross-border payment challenges, such as slow settlements and complex multi-currency management, are being addressed by companies like Lianlian International, which has developed a comprehensive payment solution for digital entertainment exports [10]. - Lianlian International has established a global payment network covering over 100 countries and regions [10].

Core Insights - The issuance of the first data property registration certificate in Hangzhou marks a significant breakthrough in addressing the core challenges of data element circulation and ownership recognition [1] - The establishment of a data property registration system is crucial for clarifying data ownership and promoting data circulation and trading [1][3] Group 1: Data Property Registration Developments - Multiple regions in China are exploring differentiated approaches to data property registration, with Hangzhou issuing its first certificate for a data asset related to smart parking [2] - In Guizhou, a tourism company successfully registered 45 core data elements, leading to the first case of data intellectual property pledge financing in the tourism industry [2] Group 2: Legal and Technical Framework - Data property registration creates a "digital identity" for data, establishing traceability for data sources, processing, and usage, thus reducing moral risks in data transactions [3] - The implementation of laws such as the Data Security Law and the Personal Information Protection Law is clarifying the data property system, requiring companies to disclose data handling processes [3] Group 3: Impact on Companies - Registered data assets can enhance the net assets of listed companies and enable them to secure higher amounts of pledge loans or issue asset-backed securities [4] - Data assets are becoming a significant indicator of "hard technology" attributes for listed companies, attracting interest from industrial capital and investment institutions [4]

Core Insights - The issuance of the first data property registration certificate in Hangzhou marks a significant breakthrough in addressing the core challenges of data element circulation and ownership recognition [1] - The establishment of a data property registration system is crucial for clarifying data ownership and promoting data circulation and trading [1][3] Group 1: Data Property Registration Developments - Multiple regions in China are exploring differentiated approaches to data property registration, including various registration systems, certificate types, and application scenarios [2] - The first data property registration certificate in Hangzhou was awarded to Lin'an Smart City Development Co., which completed its first transaction with a local electric vehicle charging company [2] - In Guizhou Province, the tourism industry is advancing data assetization, with a tourism group obtaining dual registration for 45 core data elements, leading to a pioneering case of data intellectual property pledge financing [2] Group 2: Legal and Technical Framework - Data property registration establishes a traceable "digital identity" for data through legal and technical means, transforming data usage from unrestricted access to ownership and control [3] - The implementation of laws such as the Data Security Law and the Personal Information Protection Law is clarifying the data property system, requiring companies to demonstrate the legality of data processing [3] - Data property registration not only clarifies data ownership but also activates data value, providing differentiated advantages for various types of companies, particularly listed companies [3] Group 3: Impact on Listed Companies - Registered data assets can directly enhance the net assets of listed companies, allowing them to secure higher amounts of pledge loans or issue data asset-backed securities (ABS) [4] - Data assets are becoming an important indicator of the "hard technology" attributes of listed companies, attracting interest from industrial capital and investment institutions [4]

Core Viewpoint - The successful issuance of the data property registration certificate to Shandong Yantai Tobacco Co., Ltd. marks a significant advancement in data rights recognition and management within the tobacco industry, facilitating data circulation and transaction [1][2]. Group 1: Data Property Registration - The data property registration certificate is the first of its kind in the tobacco industry, providing authoritative recognition of Yantai Tobacco's legal ownership of specific data resources [1][2]. - The registration process involved multiple institutions, including legal and data judicial appraisal entities, ensuring a comprehensive evaluation of data rights [1]. - The introduction of blockchain technology and electronic data judicial appraisal enhances the legal validity of the data property registration, providing a solid judicial guarantee for market-oriented data circulation [1]. Group 2: Data Resource and Utilization - The "Yantai Tobacco Consumption Domain Data Set" is a high-value, anonymized data resource developed through deep governance, compliant with national standards [2]. - The company has pioneered the "Unified ID" technology, enabling seamless data integration across various sectors, which enhances consumer identification and data sharing [2]. - This data set allows Yantai Tobacco to accurately understand consumption trends, facilitating targeted marketing and the development of a digital retail ecosystem characterized by cross-industry marketing and resource sharing [2].