Core Insights - RDA (Real Data Assets) emphasizes the integration of data with physical assets, recognizing data as a new production factor in the digital economy, which can be measured, traded, and monetized as a strategic resource [1] Part 1: RDA Capitalization - Incorporating data resources into financial statements allows companies to understand the scale, quality, and value of their RDA, leading to better management strategies and value realization [2] - Conditions for RDA to be included in financial statements include legal ownership, expected future economic benefits, and reliable measurement of cost or value [2] Part 2: Legal Basis and Practical Cases for RDA Investment - The Chinese government has initiated policies to explore new models for RDA inclusion in financial statements, with a focus on data-intensive industries like transportation and fintech [4] - New laws allow shareholders to use data and virtual assets as capital contributions, facilitating innovative financing models for digital economy development [4] Part 3: RDA Financing - RDA financing is a financial realization stage for data value, with various models including RDA-linked loans and RDA pledge financing [11][12] - The first RDA-linked loan was issued in September 2024, demonstrating the innovative financial products tied to RDA value [12] Part 4: RDA Insurance - The first RDA loss insurance was issued in June 2024, marking a significant step in protecting data assets [15] - Various insurance products have been developed to cover data security and compliance risks [15] Part 5: RDA Securitization - RDA can be packaged into securities for capital market circulation, with the first RDA-backed asset-backed securities (ABS) issued in June 2025 [16][17] Part 6: RDA Trust - Data trust is an emerging asset management model that allows RDA to be managed by professional institutions, ensuring specialized management and value development [19] - The first data trust project was launched in April 2023, showcasing the potential for professional management of RDA [19] Part 7: Exploration of Overseas RWA Models - RDA is a key subset of RWA (Real World Assets), focusing on valuing and trading data as independent assets [21] - The RDA layer is essential for the subsequent technological transformation and value circulation in RWA [23] Part 8: Conclusion - The integration of technology, institutional innovation, and market dynamics is reshaping the competitive landscape of the digital economy, with RDA serving as a core resource for businesses [31]