Core Insights - Jiangsu Asset Management Co., Ltd. has successfully launched the first data asset financing lease business in Wuxi and the first 100% data asset pledge debt ABS in the country, showcasing its innovative breakthroughs in the data asset financing sector [1][2] Group 1: Data Asset Financing Innovations - The company has established a "party member assault team" to tackle the challenges of data asset valuation, addressing issues such as the difficulty in defining and valuing data as a financial asset [1] - The first data asset financing lease business was successfully launched in July 2025, providing low-cost financing support and opening new pathways for data element pledge financing, earning the "2025 Excellence in Business Innovation Award" in the leasing industry [2] - The financing lease model has expanded from Wuxi to multiple locations in Jiangsu province, enhancing the integration of digital economy and real economy [2] Group 2: Collaborative Efforts and Ecosystem Building - Jiangsu Asset has partnered with Jiangsu Credit Re-guarantee Group to develop a collaborative model based on industrial chain party building, issuing the first 100% data asset pledge debt ABS in September 2025, which achieved a new low in issuance rates for data asset securitization [2] - Ongoing collaboration between Jiangsu Asset and Jiangsu Credit Re-guarantee Group has led to multiple research projects and practical cooperation, establishing a normalized cooperation model that supports data asset valuation and securitization [3] - The financial collaboration model based on industrial chain party building is enhancing the synergy effects, providing robust financial support for regional industrial development [3]

Core Insights - The recent government policies aim to alleviate the financing difficulties faced by small and medium-sized enterprises (SMEs) by introducing new financing channels, particularly through supply chain finance, intellectual property (IP) pledge financing, and data asset financing [1][13] - The dual support policy enhances traditional credit support while encouraging innovative financing tools tailored for asset-light technology enterprises, reflecting the government's commitment to SME development [1][13] Group 1: New Financing Methods - Intellectual property pledge financing allows SMEs to use their patents and trademarks as collateral to secure loans, transforming intangible assets into capital [4][13] - Data asset financing enables companies to leverage their data assets, such as customer and operational data, to apply for loans, marking a new financing avenue in the digital economy [6][7] Group 2: Implementation and Case Studies - In 2024, a Shenzhen-based AI company successfully secured millions in loans through IP pledge financing, demonstrating the effectiveness of this method in providing critical funding for technology advancement [4] - Cities like Changsha, Wuhan, and Shenzhen have reported successful cases of data asset pledge financing, showcasing the potential of this financing method [7] Group 3: Considerations for Enterprises - Companies must be aware of the complexities involved in IP pledge financing, including the need for timely payment of annual fees and proper registration of similar trademarks [9] - For data asset financing, accurate data valuation and rights confirmation are crucial, often requiring third-party services for precise assessment [9] Group 4: Role of Professional Service Institutions - Professional service institutions play a vital role in assisting SMEs with the complexities of IP pledge and data asset financing, offering comprehensive services from evaluation to risk management [11][13] - Companies like Zhongju Qifu provide integrated services that align with national policy directions, helping SMEs navigate financing processes and optimize supply chain structures [11]

Core Insights - The exploration of data asset financing has made significant progress, with successful agreements and initiatives indicating the potential for data as a new financial asset [1][2][3] Group 1: Recent Developments - On September 25, Shanghai achieved its first commercial secret (data product) pledge financing loan agreement of 50 million yuan, standardizing and visualizing the valuation and registration of commercial secrets [1] - The "Huaxin-Xinxin-Data Asset Phase 1 Asset-Backed Special Plan," which includes data assets from nine enterprises, was listed on the Shenzhen Stock Exchange on September 17, marking a milestone in data asset securitization [1] - The first data property registration certificate in Hangzhou was issued on August 19, further clarifying data ownership and promoting data circulation [1] Group 2: Challenges in Data Asset Financing - Despite the potential, many financial institutions still view data assets as "formal pledges," with the current data asset financing scale only reaching 1.39 billion yuan by the end of 2024 [1][2] - Key challenges include unclear rights confirmation, chaotic valuation, and inefficient circulation, which hinder the transformation of data into a liquid and monetizable asset [1][2] Group 3: Need for Framework Improvement - There is a need for a more innovative framework for data asset financing, including collaboration between developed regions and central-western provinces, and breakthroughs in financing for various data types across key sectors [2] - The establishment of a collaborative business chain involving enterprises, exchanges, and evaluation institutions is crucial for the capitalizing of data [2] Group 4: Recommendations for Overcoming Barriers - To address the financing challenges, a dual guarantee system of institutional and technical support is necessary, including accelerating data property legislation and establishing a unified national data asset registration platform [3] - Financial institutions should adopt pilot strategies with compliant enterprises, implement margin systems, and utilize technologies like blockchain for data monitoring [3] - The essence of data asset financing is to convert the potential of the digital economy into driving force for the real economy, requiring continuous policy efforts and collaborative innovation from various stakeholders [3]

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]