Core Viewpoint - The Chinese government has issued opinions to strengthen the construction of data-related academic disciplines and the digital talent workforce, emphasizing the need for optimized academic program settings and collaboration between educational and data management departments [1] Group 1: Academic Program Development - The opinions call for the establishment of data science and engineering, as well as digital economy and management programs at degree-granting institutions [1] - There is a focus on creating a talent cultivation mechanism that connects undergraduate, master's, and doctoral programs in data-related fields [1] - Vocational schools are encouraged to adjust data-related programs dynamically based on industry development needs, including the addition of courses in data collection, cleaning, labeling, compliance, and operations [1]

Core Viewpoint - The 2025 "Data Element ×" competition's national finals highlighted the increasing circulation of data through open, shared, and authorized operations, emphasizing the importance of data trading centers and service platforms in building a unified national data market [1] Industry Development - The development of China's data market is still in its early stages, with ongoing evolution in the types and capabilities of data circulation service institutions [1] - The National Data Bureau plans to enhance the cultivation of various data circulation service institutions to enrich the data market ecosystem and accelerate the establishment of an open, shared, and secure national integrated data market [1] Future Initiatives - Support will be provided for data trading centers to explore the establishment of a comprehensive service system for data circulation transactions [1] - Data circulation service platform companies will be encouraged to expand new models for industry data integration and utilization [1] - Data vendors will receive support to further develop data products and enhance service capabilities [1]

Core Viewpoint - The company is optimistic about the emerging field of embodied intelligence data, which is seen as a high-growth sector, and has established a dedicated team to develop related business initiatives [2] Group 1: Business Development - The company has initiated site selection for specialized companies in multiple cities across the country to support its embodied intelligence data business [2] - The company has formed partnerships with several leading robotics manufacturers and is engaging with major tech firms and local governments to align on order demands [2] Group 2: Market Potential - The national government has prioritized embodied intelligence as a key industry for future development, indicating significant market potential [2] - There is a growing demand from both domestic and international tech companies for large-scale procurement of embodied intelligence data, which includes interaction data for robots in real-world scenarios and data needed to build simulation models [2] Group 3: Collaboration and Infrastructure - Local governments are actively planning the construction of "embodied intelligence training grounds" to collect high-quality data, which will empower research and industrial applications [2] - The company is currently advancing the design and implementation of sample data delivery and training ground solutions to lay a solid foundation for the accelerated development of its embodied intelligence data business [2]

本报讯 （记者郭冀川）11月28日，2025数据要素发展大会在杭州高新区（滨江）召开。 本次大会由中国通信标准化协会、杭州国家高新技术产业开发区管委会联合主办，中国信息通信研究 院、中国数谷联合承办，杭州高新数联互通科技有限公司协办。 中国信通院云计算与大数据研究所副总工程师闫树发布并解读了《数据要素发展报告（2025年）》。闫 树以智能时代数据要素价值重构为切入点，进一步讨论数据要素的理论认识，阐述了过去一年我国数据 要素发展在供给、流通、应用和安全等方面的最新动态，并在总结发展特征、研判核心挑战的基础上， 对未来发展趋势提出展望。 中国人民大学法学院院长杨东就《法律大模型、共票与数据要素市场化》展开分享。杨东围绕数据要素 市场化的历史进程、数据要素金融创新的中国自主理论、共票理论指导下的数据要素实践等话题探讨现 存问题以及后续发展方向。 中央财经大学中国互联网经济研究院副院长、国家数据专家咨询委员会委员欧阳日辉就《数据要素市场 化配置改革的理论探讨与策略措施》展开分享。欧阳日辉以数据要素市场化配置改革为核心，深入探讨 相关理论基础，阐述我国在制度建设、市场培育、数据流通等方面的实践进展，分析当前面临的核心 ...

政企聚力，共绘"AI+数据基础设施"新篇章 【中国，上海， 2025 年 11 月 26 日】数字经济发展趋势下，数据要素作为核心生产要素已成为驱 动高质量发展的关键引擎。近日，以"数联全球商通未来——乘数无界∞"为主题的第五届全球数商大 会在上海举行，大会汇聚政、产、学、研、用代表，共话数据驱动型经济发展与要素市场化改革机 遇。 主题论坛现场 华为技术有限公司（以下简称"华为"）受邀参展并联合上海数据集团举办 "AI+ 数据基础设施 释放数 据要素价值 " 主题论坛，论坛以政策解读、技术洞察、方案落地、实践分享为核心脉络，搭建政企 协同创新交流平台，凝聚产业共识，推进数据要素流通。 上海市数据局党组成员、副局长 翁轶丛 上海市数据局党组成员、副局长翁轶丛在致辞中强调，上海正以"区块链 + 隐私保护计算"特色方 案、全域算力布局为抓手，推进数据流通利用基础设施先行先试，破解数据跨域流通、安全融合等核 心难题。华为凭借在 AI 算力、数据安全、可信流通领域的全栈技术优势，为上海数据全生命周期安 全保障、算力集约化调度提供了关键技术支撑与创新解决方案。未来，上海将深化"数字上海"建设， 持续与华为等龙头企业强化合 ...

Core Insights - The return of the founder and chairman Chen Jie as CEO signals a strategic shift for the company towards a "second entrepreneurship" phase, focusing on data intelligence in a rapidly evolving market [1][5] - The company aims to transform from merely providing data services to becoming a "refiner" of data, creating high-value products from its extensive data assets accumulated over the past decade [2][5] Group 1: Company Strategy - The company has completed two significant transformations over the past decade, evolving from information security products to SaaS services and then to inclusive finance, serving 28.5 million enterprises and accumulating over 1,000 trillion yuan in real-time transaction data [2] - A clear product roadmap has been established, which includes introducing an AI full-stack toolchain, launching intelligent product matrices for various industry applications, and exploring machine payment and data exchange based on the X402 protocol [3] Group 2: Global Expansion - The company is pursuing a global strategy that involves exporting "lightweight infrastructure" rather than simply replicating Chinese experiences, with plans to serve Chinese enterprises going abroad and entering markets in Southeast Asia and the Middle East [4] - The X402 protocol is viewed as a key application scenario for data intelligence and a new infrastructure for the AI economy, enabling monetization of data assets through various charging models [4] Group 3: Long-term Vision - The company aims to convey a strong long-term value signal to investors, emphasizing its favorable conditions, including supportive policies, unique data assets, and a top-tier team [5] - The transition to a full-stack solution model is expected to fundamentally change the company's gross margin structure, customer loyalty, and lifecycle, marking a significant shift in its operational strategy [5]

民政部信息中心、农业农村部大数据发展中心、国家数据发展研究院、国家信息中心、中国科学院微小卫星创新研究院等领导嘉宾，上海市政府办公厅、 市发改委、市农业农村委、市数据局、市国资委、市知识产权局、市大数据中心等政府领导，上海数据集团相关领导出席论坛。 央地同频，共绘发展蓝图 国家数据发展研究院院长胡坚波，上海市数据局党组成员、副局长翁轶丛，上海数据集团党委副书记祝培莉分别为论坛致辞。 11月25日，以"数联全球 商通未来——乘数无界♾️"为主题的2025全球数商大会于上海国际会议中心盛大启幕。当日下午，由上海数据集团、上海数据研 究院主办的"数据前沿"论坛成功举行。论坛以"全国一体化数据市场建设的理论与实践"为主题，深入探讨数据市场建设的战略导向、发展现状与实践路 径。 胡坚波表示，国家数据发展研究院作为国家数据局和地方行业、企业的沟通桥梁，将与社会各界同仁携手，共同推动国家数据事业的高质量发展。 本次"数据前沿"论坛汇聚了全国一体化数据市场建设的理论成果与实践案例，也为各方进一步深化合作、协同破局提供了宝贵思路。 主题演讲，共探关键议题 论坛邀请7位重磅嘉宾发表主题演讲，覆盖"全国一体化数据市场建设"的战略意 ...

Summary of the Conference Call for Zhejiang Shuculture Company Overview - The company reported total revenue of 2.15 billion yuan, with over half contributed by Bianfeng Games, particularly the "Doudizhu" game, which has shown significant growth and currently ranks among the top three in the country [2][3][4]. Key Business Segments Digital Culture - Bianfeng Games is the primary source of revenue and profit, with "Doudizhu" showing remarkable growth, having previously ranked first nationally [2][3]. - The company is also involved in sports event operations, including partnerships with Zhejiang football clubs and collaborations with Alibaba's Feizhu to develop a cultural tourism platform [3]. New Consumption Sector - The company has launched the "Guzi Economy" in collaboration with external brokerage firms, signing contracts with major IPs like "Catch the Big Goose," expected to generate revenue starting next year [2][3]. Digital Technology - The Fuchun Cloud Data Center has an uptime rate of 90%, serving major clients like NetEase and Alibaba, with expectations for revenue and profit growth next year [2][4]. - The "Propagation Brain" project has become profitable and is expanding beyond the province, with projected revenue exceeding 100 million yuan this year [2][4][13]. Digital Operations - The company operates two digital marketing firms, Taobao Tianxia and Jiutian Interactive, benefiting from the growth of Taobao and serving large internet companies [4]. Innovation Track - Investments in companies like Haikan Network and Hebei Wireless have yielded annual profits of 100-200 million yuan [4]. - The company is planning strategic investments in Zhejiang Media to expand its Guzi Economy business [4]. Financial Performance - The sales expenses for Bianfeng Games have decreased due to a stable market position, allowing for a more efficient allocation of resources [2][6]. - The company anticipates continued growth in its gaming segment, with a focus on new casual games [6][7]. User Engagement and Monetization - The "Zhangxinlei" app is currently in the market promotion phase, generating revenue through advertising and membership, with plans for further monetization through literary content [8]. IP Development - The company is actively integrating external teams for IP incubation and has signed contracts with popular mobile game IPs [9][10]. Data Trading Center - The Zhejiang Big Data Trading Center has achieved significant transaction volumes since its consolidation, with ongoing efforts to promote online data trading [11][12]. Future Outlook - The company is optimistic about the convertible bonds entering the conversion period, which is expected to enhance stock liquidity and support long-term development [15]. Additional Insights - The company is exploring new phenomenon-level casual games and maintaining a stable investment in existing game titles [6][7]. - The integration of various projects and partnerships is expected to yield significant returns in the coming years, particularly in the digital and cultural sectors [4][9].

Core Insights - The urban trusted data space is a government-led data infrastructure that facilitates the development and utilization of urban data resources, serving as a key carrier for trusted data space [1][2] Development Drivers - **Policy**: The establishment of a trusted data space is encouraged through a series of top-level designs and strategic plans aimed at promoting the compliant and efficient circulation of data. The "Trusted Data Space Development Action Plan (2024-2028)" supports the creation of urban trusted data spaces, with 13 pilot cities already announced [4][5] - **Technology**: Privacy computing and blockchain technology are introduced to address the challenges of trusted data circulation, enabling data owners to share data more confidently and willingly [5][6] - **Demand**: With China's data production expected to exceed 40ZB by 2024, the underutilization of data resources in urban governance highlights the need for trusted data spaces to enhance governance efficiency [8] Value Proposition - The urban trusted data space aims to break down data circulation barriers, activate the potential of data elements, and promote the modernization of urban governance. It enhances public service accessibility and refines urban governance through effective data utilization [11] Overall Framework - The urban trusted data space is built around a foundational infrastructure, two major platforms, and aims to empower urban digital transformation by ensuring secure data access and management [13] Core Capabilities - The core capabilities of the urban trusted data space include trusted control, resource interaction, and value co-creation, which are essential for establishing a reliable data circulation infrastructure [16] Industry Chain and Players - The urban trusted data space involves five main entities: operators, data providers, data users, data service providers, and regulatory bodies, each playing a crucial role in the ecosystem [21] Competitive Landscape - In the technical service sector, comprehensive and specialized service providers compete, with ICT background cloud service providers like Inspur Cloud leading the market due to their integrated capabilities [24] Application Scenarios - **Government Services**: The urban trusted data space facilitates inter-departmental data sharing, enhancing government efficiency through initiatives like "one network for all services" [27] - **Inclusive Finance**: By integrating government and financial data, the urban trusted data space supports the development of dynamic risk assessment models, promoting inclusive financial services [30] Case Studies - **Zhangjiakou Trusted Data Space**: This platform exemplifies a city-level data circulation infrastructure, supporting public and social data flow through a structured framework [33][35] - **Shanghai Trusted Data Space**: This initiative addresses the complexities of data circulation in a mega-city, utilizing blockchain technology to ensure secure and efficient data use [37][39] Technical Trends - AI technologies are becoming pivotal in enhancing data governance efficiency, transitioning from manual to automated and intelligent governance strategies [42] Future Trends - The urban trusted data space is expected to evolve from pilot projects to a collaborative ecosystem, attracting industry and enterprise participation to explore vertical applications [44][45]

Core Insights - The establishment of local data groups has intensified in recent years, with 29 provincial-level and 187 municipal-level data groups projected by September 2025 [1][3] - Local data groups integrate regional data resources and build public data operation systems, enhancing government digital governance and decision-making accuracy while driving traditional industry transformation through market-oriented data allocation [1][3] - The "2025 National Data Group Development Blue Book" outlines three main models for the formation of local data groups: new establishment, integration and reorganization, and direct renaming of existing state-owned enterprises [3] Summary by Sections Establishment and Functionality - Local data groups serve as a crucial link between government governance needs and market innovation, promoting the release of regional data value and high-quality development of the digital economy [1] - They provide comprehensive service support for local government digital governance, improving administrative efficiency and decision-making precision [1] Trends and Future Outlook - The development of local data groups is expected to show three major trends: intensified competition leading to the emergence of leading enterprises with data, technology, and ecological advantages; normalization of cross-regional cooperation through data alliances; and a clear hierarchical division of labor with a "provincial-level coordination and municipal-level deep cultivation" structure [3][4] Recommendations - The blue book suggests encouraging local groups to explore unique development paths, supporting leading enterprises in ecological construction, guiding groups to implement differentiated competition, and enhancing core competitiveness through data resource reserves and talent development [4]