数据资产融资领域探索有了新的进展。9月25日，上海市首单5000万元商业秘密（数据产品）质押融资 贷款协议成功达成，通过引入数据知识产权管理工具，对商业秘密进行标准化、可视化的价值评估与确 权登记，将原本难以量化的商业秘密转化为可质押、可登记的数据知识产权标的；9月17日，包含了9家 企业数据资产的"华鑫—鑫欣—数据资产1期资产支持专项计划"在深圳证券交易所挂牌，标志着数据资 产证券化项目落地；8月19日，杭州市首张数据产权登记证书在杭州数据交易所颁发，进一步明确了数 据权属，促进了数据流通交易。 破解数据融资困局需构建制度和技术的双重保障。在顶层设计上，加快数据产权立法进程，明确数据持 有权、加工使用权、产品经营权的边界与效力，推动建立全国统一的数据资产登记平台与估值标准体 系，同时细化会计核算指引，规范企业数据资产计量行为。在金融机构实践层面，可采取试点先行策 略，优先选择数据基础扎实、合规性强的企业开展业务，通过合约设计引入保证金制度与行业联合惩戒 机制，防范数据滥用风险；借助区块链、数据脱敏等技术，实现质押数据的全生命周期溯源与监控，提 升风险防控能力。此外，完善数据交易市场建设，构建包含交易所、评估 ...

Core Viewpoint - The rapid development of the digital economy has made data a crucial production factor and valuable resource, leading to the emergence of data as an important asset category for enterprises [1][2]. Group 1: Data Asset Financing - In March 2025, the People's Bank of China (PBOC) in Zhanjiang successfully facilitated the first data intellectual property pledge financing in the Guangdong region, allowing Zhanjiang Public Transport Group to secure a loan of 10 million yuan using its "Smart Bus Intelligent Dispatch Management System Data" as collateral [1][4]. - The PBOC in Zhanjiang has been actively guiding financial institutions to recognize the value of data and explore new financing paths for data assets, having previously supported the first data asset pledge financing in the region in June 2024 [2][3]. - Data intellectual property pledge financing is a new financing method that uses legally owned data with registered intellectual property rights as collateral, offering clearer legal ownership, more mature valuation, and higher market acceptance compared to traditional data asset pledge financing [2][3]. Group 2: Knowledge and Policy Promotion - The PBOC in Zhanjiang has organized multiple government-bank-enterprise matchmaking meetings to promote knowledge of intellectual property pledge financing policies, encouraging banks to tailor financing solutions for enterprises based on individual needs [3]. - A comprehensive service system has been established to cover data value extraction, assessment, and financial product development, focusing on local enterprises with intellectual property advantages [3]. Group 3: Impact and Future Directions - The successful implementation of the first data intellectual property pledge financing has validated the financial value of data intellectual property and provided a replicable innovative path for enterprises in Zhanjiang to unlock data value [5]. - The PBOC in Zhanjiang plans to continue exploring new models of data asset pledge financing that align with market rules and meet enterprise needs, contributing to the transformation of urban transportation towards digitalization and intelligence [5].

Core Viewpoint - The collaboration between China Construction Bank (CCB) Shanghai Branch and Shanghai Data Exchange aims to innovate financial solutions for data asset financing, providing a credit line of 30 million yuan to Weizhi Technology, marking the highest credit amount for the "Data Easy Loan" program to date [1][2]. Group 1: Financing Innovation - Weizhi Technology, a leading spatiotemporal AI platform, has successfully completed data product certification and trading on Shanghai Data Exchange, with total transaction amounts exceeding 70 million yuan in the first half of the year [2]. - The company utilized its data product "Weizhi Address Search" for data asset pledge financing, receiving a credit line of 30 million yuan from CCB Shanghai Branch after asset evaluation using the "Jinzhun Estimate" tool [2][3]. - The new loan model provides flexible financing channels for enterprises, addressing challenges faced by small and micro enterprises in obtaining loans and equity financing [3]. Group 2: Data Asset Challenges - Data asset financing presents both opportunities and challenges, including difficulties in asset ownership confirmation, valuation, custody, and disposal [4]. - The replication nature of data and multi-party participation complicate asset ownership confirmation, necessitating clearer policies and legal frameworks regarding data asset rights [4]. - Current valuation methods for data assets are not mature enough to fully reflect market value, and the volatility of data asset values increases the difficulty of disposal [4]. Group 3: Market Practices and Regulations - Shanghai Data Exchange provides essential functions such as registration, valuation, trading, disclosure, and disposal of data assets, with the "Jinzhun Estimate" tool offering fair value analysis [5]. - The evaluation of data asset value is a rigorous process based on facts and data, supported by extensive market transaction records that help assess market dynamics and potential risks [5]. - The development of data assetization should focus on empowering the real economy, avoiding hidden liabilities and bubbles, and ensuring that business models and cash flows are closely monitored [5].

Core Viewpoint - The rapid development of the digital economy has positioned data as a crucial production factor and valuable resource, leading to innovative financing methods such as data intellectual property pledge financing [1][2][5] Group 1: Data Asset Financing - The first data intellectual property pledge financing in the Guangdong region was successfully executed, allowing the Zhanjiang Public Transport Group to secure a loan of 10 million yuan using its "Smart Bus Intelligent Dispatch Management System Data" as collateral [1][4] - The People's Bank of China (PBOC) in Zhanjiang has been actively guiding financial institutions to recognize and leverage the value of data assets, resulting in the first data asset pledge financing in the region back in June 2024 [2][5] - Data intellectual property pledge financing is characterized by clearer legal ownership, more mature valuation and pricing, and higher market acceptance compared to traditional data asset pledge financing [2][3] Group 2: Knowledge and Policy Promotion - The PBOC in Zhanjiang has organized multiple government-bank-enterprise matchmaking meetings to promote knowledge of intellectual property pledge financing policies, aiming to tailor financing solutions for individual enterprises [3][5] - A comprehensive service system has been established to cover data value extraction, assessment, and financial product development, focusing on local enterprises with intellectual property advantages [3] Group 3: Impact on Urban Development - The successful implementation of data intellectual property pledge financing not only validates the financial value of data intellectual property but also provides a replicable innovative path for enterprises in Zhanjiang to unlock data value [5] - This initiative is expected to accelerate the digital and intelligent transformation of urban transportation, contributing to the development of smart transportation and smart city clusters in Zhanjiang [5]