Core Insights - Data is recognized as the fifth production factor, with its value extraction process being more complex than traditional production factors due to its non-competitive, replicable, and infinite growth characteristics [1] - The development of a market-oriented system, represented by local data trading institutions and data merchants, is becoming the core driver for the growth of the data factor market [1][2] - The establishment of a clear policy framework and implementation path is crucial for enhancing the value of data elements, aiming for a well-functioning ecosystem of data supply and usage [1][4] Current Situation Analysis - The data factor market system is gradually improving, driven by policy guidance and industrial construction, focusing on data, technology, and infrastructure [2] - The digital economy's core industries are becoming significant drivers for the overall economic development in China, with the data factor market expected to grow at a compound annual growth rate (CAGR) of approximately 20.26% to exceed 300 billion by 2028 [6] Policy Analysis - The improvement of the policy framework for the data industry value chain and the establishment of local data systems are essential for the circulation of data factor value [4] Market Size Calculation - China's digital economy has grown from 27.2 trillion in 2017 to 53.9 trillion in 2023, with a CAGR of about 12.07% [6] - The data processing segment, focusing on data processing and analysis, is expected to become the largest sub-industry within the data factor market, reaching approximately 144 billion by 2028 [6] Data Value Chain Circulation - The establishment of a data ownership system based on the "Data Twenty Articles" is crucial for ensuring efficient circulation of data value [11] - Data registration is essential for asset ownership division and promoting data value release, with a "1+3" policy framework guiding public data resource management [13] - The data valuation policy framework is becoming more refined, with public data resource quantification standards emerging as important benchmarks [16] Capitalization of Data Assets - The entry of data assets into financial statements marks a significant step in the capitalization of data elements, with regulations coming into effect in 2024 [19] - The market for data asset transactions is characterized by a "cold inside, hot outside" distribution pattern, with off-market transactions dominating due to their flexibility and customization [21] Industry Practices - The financial sector is expected to see a CAGR of approximately 19.06%, reaching over 100 billion by 2028, driven by the integration of diverse data [30][31] - The industrial manufacturing sector is projected to grow at a CAGR of about 24.22%, with a focus on high-quality data sets and trusted data spaces [34] - The healthcare sector's data element scale is expected to grow steadily, with a CAGR of about 23.69%, emphasizing the importance of data compliance and security [36] Trends - High-quality data sets are becoming key to driving the artificial intelligence industry, with a shift from "single-point breakthroughs" to "holistic development" [39][40] - The construction of trusted data spaces will be crucial for ensuring the circulation and high-value application of data elements [42]

在此次高质量数据集建设先行先试工作单位中，涉及金融服务的有证通股份有限公司申报的《资本市场 融资企业高质量数据集建设》，以及恒生电子（600570）股份有限公司申报的《面向金融行业大模型的 多模态高质量数据集建设》，这两项申报不仅代表了资本市场对数据资源的深度探索，更揭示了数据要 素驱动金融业态变革的重要价值。 高质量数据集通过整合企业研发投入、专利数据、供应链关系等多维度信息，构建动态化企业画像，能 够降低信息不对称问题，投资者和金融机构能够精准识别企业技术领先性与商业化潜力，进而提升对很 多轻资产、高成长性企业的风险评估能力。 高质量数据集是人工智能时代的"战略资源"，尤其在金融、能源、交通等关键领域，数据集建设与治理 是保障产业链供应链韧性的重要基石。国家数据局在今年4月份发布的《全国数据资源调查报告(2024 年)》显示，2024年我国高质量数据集数量同比增长27.4%，有力支撑人工智能训练和应用。 中关村物联网产业联盟副秘书长袁帅对记者分析，数据质量是人工智能从"可用"向"好用"跨越的关键瓶 颈，高质量数据集建设先行先试工作通过"场景驱动+示范先行"策略，推动跨部门、跨行业数据协同， 通过政策引导与 ...

Core Insights - Data, as the fifth production factor, has unique characteristics such as non-competitiveness, replicability, and infinite growth potential, making its value extraction process more complex than traditional production factors [1] - The development of a market for data elements relies heavily on a clear policy framework and implementation pathways, with local data trading institutions and data merchants becoming key drivers [1][2] - The domestic data element market is expected to grow at a compound annual growth rate (CAGR) of approximately 20.26%, surpassing 300 billion yuan by 2028 [6] Current Situation Analysis - The data element market system is gradually improving, driven by policy guidance and industrial construction, focusing on data, technology, and infrastructure [2] - The digital economy's core industries are becoming significant drivers of the overall economic system, with the digital economy scale increasing from 27.2 trillion yuan in 2017 to 53.9 trillion yuan in 2023, doubling in six years [6] Policy Analysis - The improvement of the policy framework for the data industry value chain and the establishment of local data systems are crucial for the circulation of data element value [4] Market Scale Assessment - The data element industry is projected to reach approximately 200 billion yuan by 2025 and exceed 300 billion yuan by 2028, with data processing and analysis being the largest segment [6] Data Value Chain Construction - The establishment of a data value circulation system is supported by advanced technology and regulatory compliance [8] - The construction of a data ownership system based on the "Data Twenty Articles" is essential for efficient data value circulation [11] Data Registration - Data registration is critical for asset ownership delineation and promoting data value release, with a "1+3" policy framework guiding public data resource management [13] Data Value Assessment - The data valuation policy framework is becoming more refined, with public data resource quantification standards emerging as important benchmarks [16] Data Asset Capitalization - The capitalization of data assets is a core practice for realizing data value, with the implementation of regulations marking a new era for data asset inclusion in financial statements starting January 1, 2024 [19] Data Asset Trading - The data market exhibits a distribution pattern of "internal cold, external hot," with off-market transactions dominating due to their flexibility and customization [21] Industry Practices - The financial sector is expected to see a CAGR of approximately 19.06%, reaching over 100 billion yuan by 2028, driven by data element integration [31] - The industrial manufacturing sector is projected to grow at a CAGR of about 24.22%, with a focus on high-quality data sets and trusted data spaces [34] - The healthcare industry is anticipated to grow at a CAGR of around 23.69%, emphasizing the compliance of personal health data applications [36] Trends - High-quality data set construction is becoming a key factor in advancing the artificial intelligence industry, transitioning from "point breakthroughs" to "holistic development" [39] - The establishment of trusted data spaces will be crucial for ensuring the circulation and high-value application of data elements [42]

Core Insights - Data, as the fifth production factor, has unique characteristics such as non-competitiveness, replicability, and infinite growth potential, making its value extraction process more complex than traditional production factors [1] - The development of a market for data elements relies heavily on a clear policy framework and implementation pathways, with local data trading institutions and data merchants becoming key drivers [1][2] - The integration of government and industry is essential for establishing a robust ecosystem for data supply and usage, aiming for a phased goal of effective supply, fluid movement, good utilization, and security [1] Current Status of the Data Element Industry - The data element market system is gradually improving, driven by policy guidance and industrial construction, focusing on data, technology, and infrastructure [2] Policy Analysis - The improvement of the policy framework for the data industry value chain and the establishment of local data systems are crucial for the circulation of data element value [4] Market Scale Estimation - The domestic data element market is expected to grow at a compound annual growth rate (CAGR) of approximately 20.26%, surpassing 300 billion yuan by 2028 [6] - The digital economy's core industries are projected to contribute significantly to the overall economic development, with the digital economy scale increasing from 27.2 trillion yuan in 2017 to 53.9 trillion yuan in 2023, reflecting a CAGR of about 12.07% [6] Data Value Chain Construction - The construction of a data value circulation system is supported by advanced technology and regulatory compliance [8] Data Compliance and Rights Confirmation - The establishment of a data ownership system based on the "Data Twenty Articles" is crucial for ensuring efficient circulation of data value [11] - The legal framework for data rights confirmation is expected to evolve, addressing challenges such as data classification and compliance standards [11] Data Registration - Data registration is essential for asset ownership division and promoting data value release, with a "1+3" policy framework guiding public data resource management [13] Data Value Assessment - The data valuation policy framework is becoming more refined, with public data resource quantification standards emerging as important benchmarks [16] Data Asset Inclusion in Financial Statements - The inclusion of data assets in financial statements marks a significant step towards capitalizing data elements, with regulations coming into effect in 2024 [19] Data Asset Trading - The data market exhibits a "cold inside, hot outside" distribution pattern, with off-market trading dominating due to its flexibility and customization [21] Capitalization of Data Assets - Capitalization of data assets is becoming a core method for value release, optimizing the asset-liability structure of data-intensive enterprises [23] Data Asset Tokenization - Data asset tokenization represents the highest level of data value application, integrating physical asset digitization with digital asset monetization [25] Industry Practice: Market Size Breakdown - Data resource-intensive industries are central to the data element market, with finance and internet sectors collectively holding about half of the market share [28] Practical Scenarios: Financial Industry - The financial sector is expected to see a CAGR of approximately 19.06%, reaching over 100 billion yuan by 2028, driven by data element integration [31] Practical Scenarios: Industrial Manufacturing - The industrial manufacturing sector is projected to grow at a CAGR of about 24.22%, driven by the demand for high-quality data and cross-industry data resource sharing [34] Practical Scenarios: Healthcare Industry - The healthcare sector's data element scale is expected to grow at a CAGR of approximately 23.69%, surpassing 25 billion yuan by 2028 [36] Trends: High-Quality Data Set Construction - High-quality data sets are becoming key to driving AI industry development, with a focus on systematic data collection and processing [39] Trends: Trusted Data Space Construction - The establishment of trusted data spaces is essential for ensuring the secure circulation and high-value application of data elements [42]

Group 1 - The National Data Bureau has launched a new batch of high-quality data set construction pilot tasks, focusing on the integration of artificial intelligence with various industries to reshape production and lifestyle paradigms [1][2] - Four projects from Jiangsu Province, including the Xinhua News Media Cultural Industry High-Quality Data Set Construction, have been selected for this initiative [1][2] - The projects aim to address the challenges of data fragmentation and inefficiency in the media industry, ensuring data security, compliance, and effective circulation [2][3] Group 2 - The healthcare high-quality data set construction project will focus on six key areas, including cardiovascular diseases and cancer management, serving as a benchmark for national healthcare data governance and intelligent applications [2][3] - The high-quality multimodal ultrasound medical data set project has a total investment of 80 million yuan, aiming to create the first standardized and operational industry-level medical imaging data set in the ultrasound field [2] - The energy-saving photovoltaic integrated comprehensive energy high-quality data set project will transition from a traditional experience-driven model to a data-driven, globally optimized intelligent system [2][3]

Group 1 - The National Data Bureau has launched a new batch of high-quality data set construction pilot tasks, with four projects from Jiangsu province selected, including the Xinhua News Media Cultural Industry High-Quality Data Set Construction Project [1] - The focus is on integrating artificial intelligence with various sectors to reshape production and living paradigms, emphasizing the need for high-quality data sets [1][2] - The selected projects aim to address the challenges of data fragmentation and inefficiency in the media and healthcare sectors, promoting safe and compliant data circulation [2][3] Group 2 - The Xinhua News Media project will implement a "1+3+10+N" framework to meet high-quality data set construction needs and tackle the media industry's data issues [2] - The healthcare project will pilot in six key areas, including cardiovascular and cancer management, providing a benchmark for national healthcare data governance [2] - The total investment for the high-quality multimodal ultrasound medical data set project is 80 million yuan, aiming to enhance AI model training efficiency and clinical application reliability [2]

Group 1 - The core viewpoint emphasizes China's commitment to digital transformation, leveraging opportunities in digitalization, networking, and intelligence during the 14th Five-Year Plan period [1] - As of June 2023, China has established a leading position in digital infrastructure, with 4.55 million 5G base stations and 226 million gigabit broadband users, ranking second globally in total computing power [1] - The number of internet users in China has reached 1.123 billion, with an internet penetration rate of 79.7%, indicating a significant expansion of digital services [2] Group 2 - Digital services have become more accessible, with over 1 billion people using electronic social security cards, covering more than 75% of the population [2] - The national internet hospitals have served over 100 million people annually, and the cross-province medical insurance settlement has benefited 560 million instances [2] - The digital education platform in China is the largest globally, and digital elderly care services have seen positive outcomes with the launch of a national elderly care information platform [2] Group 3 - Social governance has become more precise and efficient, with the "one network for all services" initiative enhancing public service accessibility and inter-departmental data sharing [3] - The national data bureau aims to leverage data elements to promote digital transformation in public services, digital life, and social governance [3] Group 4 - Data application scenarios are expanding, with 70 demonstration scenarios covering key sectors such as agriculture and healthcare [4] - The construction of high-quality data sets has exceeded 35,000, with ongoing efforts to enhance data resource management and utilization [5][6] Group 5 - The data market is evolving, with a 70% year-on-year increase in new data products launched in the first half of the year, totaling 3,328 products [7] - The supply of high-quality data sets in the artificial intelligence sector has surged by 280% year-on-year [7] - The national data infrastructure construction is in its early stages, focusing on high-quality standards and large-scale deployment to support digital economy development [8]

Core Insights - The domestic data factor industry is evolving towards a higher value "government-industry linkage" model, driven by policy guidance and industrial construction [1] - The digital economy's core industries are becoming significant drivers of the overall economic system, with the data factor market expected to exceed 300 billion yuan by 2028, growing at a compound annual growth rate (CAGR) of approximately 20.26% [6] - The establishment of a data value circulation system is crucial for the efficient flow of data assets, with a focus on compliance and rights confirmation [11][13] Policy Analysis - The improvement of the data industry value chain and local data systems is essential for the circulation of data factors, marking a new phase of quality enhancement in the digital industry [3] - The "Data Twenty Articles" policy has initiated the construction of a data ownership system, which is vital for the efficient circulation of data value [11] Market Scale - The digital economy in China has grown from 27.2 trillion yuan in 2017 to 53.9 trillion yuan in 2023, with a CAGR of about 12.07% [6] - By 2025, the overall scale of the data factor industry is expected to reach around 200 billion yuan, with data processing and analysis becoming the largest segment, projected to reach 144 billion yuan by 2028 [6] Data Value Chain Circulation - The construction of a data value circulation system is supported by advanced technology and regulatory compliance, focusing on the phased development of data value [8] - Data asset registration is crucial for the division of ownership and promoting the market circulation of data assets [13] - The establishment of a data evaluation policy framework is necessary for the accurate assessment of data value, which is essential for market circulation [16][17] Capitalization of Data Assets - The entry of data assets into financial statements marks a significant step in the capitalization of data factors, with the implementation of regulations starting January 1, 2024 [19] - The market for data asset transactions is characterized by a "cold inside, hot outside" distribution pattern, with off-market transactions dominating due to their flexibility [21] Industry Practices - The financial sector is expected to see a CAGR of approximately 19.06%, reaching over 100 billion yuan by 2028, driven by the integration of diverse data [32] - The industrial manufacturing sector is projected to grow at a CAGR of about 24.22%, with a focus on high-quality data sets and trusted data spaces [35] - The healthcare industry is anticipated to grow at a CAGR of around 23.69%, emphasizing the compliance and security of personal health data [37] Trends - The construction of high-quality data sets is crucial for the development of the artificial intelligence industry, transitioning from "point breakthroughs" to "holistic development" [40] - The establishment of trusted data spaces will be fundamental for ensuring the circulation and high-value application of data factors [43]

Core Insights - The National Data Bureau is promoting the construction of high-quality data sets through a structured approach, focusing on general, industry-specific, and specialized categories [1] - The bureau is initiating a special action for ecological cultivation, which includes collecting and promoting exemplary high-quality data sets from sectors like healthcare, industry, and transportation [1] - Seven cities, including Hefei and Chengdu, are being guided to establish data labeling bases as pilot projects, with significant progress reported in data set construction [1] Group 1 - The National Data Bureau's deputy director, Luo Yongying, announced the ongoing efforts to advance high-quality data set standards [1] - The initiative includes three main aspects: promoting exemplary data sets, hosting technical exchange activities, and creating a platform for supply-demand matching [1] - As of mid-2023, the seven data labeling bases have constructed 524 data sets, exceeding 29 petabytes in scale, and are serving 163 large models [1]

Group 1 - The release of the "Regulations on Government Data Sharing" marks a new phase of legal governance for data sharing in China, providing a legal framework for efficient data circulation and enhancing government digital governance capabilities [2][3] - The regulations address existing issues such as incomplete mechanisms and unclear responsibilities in government data sharing, aiming to eliminate "data silos" and improve the efficiency of data utilization [2] - The establishment of 10 national data element comprehensive pilot zones in various provinces aims to support the integration of the real economy and digital economy, fostering a robust data market ecosystem [3] Group 2 - A seminar on high-quality data set construction and standardization was held, focusing on guidelines, format requirements, and quality assessment for data sets, which will facilitate the application of artificial intelligence in central enterprises [4][5] - Guangzhou's "Digital Guangzhou Construction 2025 Work Points" outlines 32 key tasks for digital transformation, emphasizing the development of data resources and the establishment of a governance system for data circulation [5]