7月25日，国家数据局召开数据要素综合试验区建设首场新闻发布会，介绍相关情况和典型经验。今年6 月份，国家数据局公布，我国将在北京、浙江、安徽等地部署建设10个国家数据要素综合试验区（以下 简称"试验区"），支持各地在培育经营主体、繁荣壮大数据市场等方面，开展先行先试，全面释放实体 经济和数字经济融合效能。此后，各地也陆续发布试验区建设方案。 三是积极探索、改革攻坚，涌现了不少新探索新做法。各地方因地制宜制定年度工作要点，扎实推进各 项任务落实，取得了不少新进展。比如，在数据产业培育方面，安徽省率先培育认定省级数据企业和数 据产业园，涌现出一批行业领先的数据企业。在公共数据授权运营机制探索上，北京打造"领域+场 景"的公共数据专区授权运营模式，累计为银行、保险、担保等60余家金融机构以及70万家市场经营主 体提供服务超4亿次。 此次参会的还有多个省市的数据管理部门负责人，山东省大数据局党组成员、副局长禹金涛回答《证券 日报》记者提问时表示，山东坚持机制先行，形成了"统筹有力、广泛参与、示范引领"的工作格局。在 数字强省建设领导小组框架下，建立试验区建设工作协调机制，全省"一盘棋"整体推进。组织实施"揭 榜挂帅 ...

Core Insights - The report indicates a "relatively hot" market sentiment with a composite score of 74, suggesting a positive outlook for the market [6][9]. - Recent policy support and improved market sentiment have led to a gradual upward trend in the market [9]. Market Themes Tracking - **Data Theme**: The National Data Bureau and the State Administration for Market Regulation have introduced measures to enhance data circulation efficiency, potentially increasing efficiency by 30% [7]. - **Cross-Border Payment Theme**: The People's Bank of China has simplified conditions for foreign institutions to participate in the Renminbi cross-border payment system, reflecting China's commitment to promote the global use of the Renminbi [7]. - **Innovative Drug Theme**: The National Healthcare Security Administration and the National Health Commission have issued measures to support the high-quality development of innovative drugs, emphasizing the use of healthcare data in drug development [7]. Market Capital Flow - The report lists the top ten stocks with the highest net inflow, with Dongfang Caifu (300059.SZ) leading at 159,736.05 million [10]. - The report also highlights the top ten stocks with the highest net outflow, with Tianfu Communication (300394.SZ) showing a net outflow of -61,119.45 million [12]. Industry Analysis - The non-bank financial sector has seen significant net buying, indicating investor optimism [19]. - Conversely, the food and beverage sector has experienced substantial net outflows, suggesting a bearish sentiment among investors [17].

Core Insights - The report indicates a "relatively hot" market sentiment with a composite score of 66, suggesting a positive outlook for market performance [5][12] - Recent policy support and improved market sentiment are driving a gradual upward trend in the market [12] Hot Topics Tracking - **Data Theme**: The National Data Bureau and the State Administration for Market Regulation have introduced measures to enhance data circulation efficiency, potentially increasing efficiency by 30% [6] - **Cross-Border Payment Theme**: The People's Bank of China has released a draft for the rules governing the Renminbi cross-border payment system, aiming to simplify participation conditions for foreign institutions [6] - **Innovative Drug Theme**: The National Healthcare Security Administration and the National Health Commission have issued measures to support the high-quality development of innovative drugs, emphasizing the use of medical insurance data in drug research [6] Market Sentiment Analysis - The market sentiment temperature indicator shows a trend where scores below 30 provide support for the market, while scores above 90 indicate resistance [12] - The report suggests that during "relatively hot" market conditions, investors may consider increasing their investments while remaining cautious of potential overheating risks [24] Major Capital Flows - The report lists significant net inflows for various stocks, with "跨境通" (Cross-Border Communication) leading at 85,258.43 million [13] - Conversely, notable net outflows were observed in "中油资本" (China Oil Capital) with -76,258.27 million, indicating investor caution in certain sectors [15] Industry Performance - The report highlights the performance of various industries, with significant net inflows observed in sectors such as non-ferrous metals and electronics, while industries like pharmaceuticals and defense showed substantial net outflows [20][21]

Core Insights - The report indicates that the current market sentiment is at a high level, with a score of 88, categorizing it as "overheated" [6][10][22] - Recent policy support and improved market sentiment have contributed to a bullish trend in the market [10] Market Themes Tracking - **Data Theme**: The National Data Bureau and the State Administration for Market Regulation have introduced measures to enhance data circulation efficiency, potentially increasing efficiency by 30% [7] - **Cross-Border Payment Theme**: The People's Bank of China has released a draft for the rules governing the Renminbi cross-border payment system, aiming to simplify participation conditions for foreign institutions [7] - **Innovative Drug Theme**: The National Healthcare Security Administration and the National Health Commission have issued measures to support the high-quality development of innovative drugs, emphasizing the use of medical insurance data for drug research [7] Major Capital Inflows - The report lists the top ten stocks with significant net inflows, including Zhongyou Capital (90.12 million), Pengding Holdings (64.11 million), and others [11][12] Major Capital Outflows - The report also highlights the top ten stocks with significant net outflows, such as Changshan Pharmaceutical (-83.03 million) and Jinyi Culture (-79.62 million) [13][23] Financing and Margin Trading - The report provides insights into financing net purchases and margin trading, indicating investor sentiment towards specific stocks and sectors [23]

Core Viewpoint - The issuance of standardized contract templates for data circulation transactions aims to facilitate smoother and more efficient data trading among businesses, addressing existing challenges in the market [3][4][5]. Group 1: Contract Types - The standardized contract templates focus on four typical scenarios in data circulation: data provision, data entrusted processing, data fusion development, and data intermediary services [3]. - The data provision contract is designed for data providers to share data with recipients through various means, including paid transactions and licensing [3]. - The data entrusted processing contract allows data owners to delegate data processing tasks to third parties based on specific instructions [3]. - The data fusion development contract facilitates collaboration among parties to share data for creating platforms or pools, such as AI training zones [3]. - The data intermediary services contract pertains to the facilitation of data transactions through marketing, information dissemination, and contract establishment [3]. Group 2: Benefits and Efficiency - The standardized contracts include common clauses regarding data ownership, confidentiality, liability, and dispute resolution, which are tailored to the specific needs of data circulation transactions [4]. - The introduction of these templates is expected to significantly reduce negotiation costs and improve transaction efficiency by approximately 30% [4][5]. - The templates will help businesses avoid lengthy negotiations and unclear contract terms, which have previously led to disputes and increased costs [4][5]. Group 3: Market Implications - The availability of standardized contracts encourages businesses to treat data as a distinct commodity, enhancing participation from risk-averse entities like state-owned enterprises and financial institutions [6]. - The growing trend of data trading is reflected in the financial disclosures of listed companies, indicating a shift towards more structured and compliant data transactions [5][6].

中国移动（600941）通信联合会教育与科学技术研究院执行院长、区块链与数据要素专委会主任陈晓华 对《证券日报》记者分析，示范文本通过标准化合同框架如明确权属、质量、安全要求，大幅降低数据 交易协商成本与法律风险，激活市场流动性，同时落实数据"三权分置"规则，促进跨行业数据融合开 发，推动数据从资源向生产要素转化，直接驱动数字经济价值创造效率提升。 本次发布的示范文本聚焦数据流通中最典型的四类场景，即数据提供、数据委托处理、数据融合开发和 数据中介，供数据市场中的经营主体使用。从应用场景来看，示范文本覆盖了大部分数据交易场景，为 企业数据开发提供标准化合作框架，企业可以基于合同约定的收益分配机制，探索数据授权运营、数据 信托等创新路径，激发了企业的用数热情。 深圳市信息服务业区块链协会会长郑定向在接受《证券日报》记者采访时表示，数据资产入表的核心前 提是产权清晰，但传统合同中数据权属条款模糊，导致审计机构对数据资产权属存疑。示范文本通过明 确四类场景的产权归属条款，为企业数据确权提供了标准化依据，降低了企业合作顾虑。 在数字经济时代，数据已成为继土地、劳动力、资本、技术之后的第五大生产要素，数据流通交易作为 ...

Core Viewpoint - The National Bureau of Statistics and the State Administration for Market Regulation have introduced measures to enhance the efficiency of data circulation and transactions by releasing model contracts for data circulation transactions [1] Group 1: Data Circulation Transaction Measures - The initiative aims to address the low efficiency of data circulation and transaction processes [1] - Model contracts have been published to serve as a reference for businesses in need [1] Group 2: Typical Data Circulation Scenarios - There are four typical scenarios for data circulation transactions: 1. Data providers supplying data to data recipients 2. Data entrustors handing over data to data trustees for processing 3. Multiple parties collaborating on data fusion and development 4. Data intermediaries facilitating data circulation transactions [1]

Core Viewpoint - The Director of the National Data Bureau, Liu Liehong, emphasized the importance of promoting the marketization and valuation of data elements, as well as refining the "three rights separation" scheme for data property rights [1] Group 1: Market Development - The initiative aims to accelerate the cultivation of a unified national data market [1] - There is a focus on constructing a standard system for data circulation and transaction [1] Group 2: Regulatory Framework - The plan includes detailing circulation and transaction rules for data [1] - The promotion of standard demonstration contracts for data circulation and transactions is also highlighted [1]

Core Viewpoint - The National Data Bureau emphasizes the importance of accelerating the construction of Digital China by leveraging unprecedented opportunities brought by artificial intelligence, promoting market-oriented data factor allocation reform, and synchronizing the "AI+" initiative [1] Group 1: High-Quality Data Supply - The National Data Bureau aims to continuously promote high-quality data supply by integrating data factors with AI, technological innovation, and industrial development [1] - The focus will be on building high-quality data sets for industries to provide a solid data foundation for AI technology innovation and application [1] - The goal is to ensure that the construction and promotion of high-quality data sets align with the implementation of the "AI+" initiative [1] Group 2: Computing Power Infrastructure - The Bureau plans to systematically advance the construction of a national integrated computing power network [1] - An innovative mechanism for coordinating computing power and electricity will be developed, promoting integrated, centralized, and green development of computing facilities [1] - The target is to ensure that over 60% of new computing power is concentrated at national hub nodes, with more than 80% of electricity used in new large data centers coming from green sources [1] Group 3: Data Circulation and Trading - The Bureau will vigorously promote the market-oriented valuation of data factors and refine the three rights division scheme for data property rights [1] - Efforts will be made to cultivate a national integrated data market and establish a standard system for data circulation and trading [1] - The initiative includes detailing circulation and trading rules, promoting the release of standard demonstration contracts for data circulation and trading, and enhancing data infrastructure to facilitate cross-entity, cross-industry, and cross-domain data collaboration and reuse [1]