Core Insights - The article emphasizes the importance of data as a key production factor, comparable to land and capital, with predictions indicating that a 10% increase in data flow can lead to a 0.2% GDP growth [1] - The construction of a data market is identified as a crucial pathway for advancing the digital economy in China, with a projected data production total of 41.06 ZB by 2024 [1] Data Market Overview - The data market consists of raw data, processed data, and standardized data service products, with diverse supply sources including businesses, government agencies, and data brokers [2] - The demand for data spans various sectors, including enterprises for marketing and risk management, and government for urban governance and policy-making [2] Differences from Traditional Markets - Data markets differ from traditional markets primarily in pricing and trading mechanisms, with various pricing models such as pay-per-use and subscription [3] - Innovative trading modes include platform trading, over-the-counter trading, and data sharing pools within data alliances [3] Regulatory Framework - Establishing a data market requires a robust regulatory framework, including standardized data classification and a unified data language to facilitate transactions [4] - The recent policy direction from the Chinese government highlights the need for clear data ownership, market transactions, and rights protection [4] Cultivating Data Operators - Data operators, or "data merchants," are essential for the development of the data market, providing services in data production, management, and trading [5] - Encouraging the opening of high-value public data and integrating data resources into asset management systems are key strategies for fostering data operators [5] Infrastructure Support - The transaction of data requires foundational infrastructure, including network, computing, and security facilities, to enable safe and efficient data flow [6] - A multi-layered data market system is proposed to facilitate data movement across regions and sectors [6] International Cooperation - Expanding into international data markets is crucial for enhancing China's digital competitiveness, necessitating the integration of cross-border data flow into economic development plans [7] - Collaboration on data protection legislation and standards is essential to balance data sovereignty with global data sharing [7]