Group 1 - Zhengzhou has been selected as one of the 13 national pilot cities for the "Innovative Development of Trusted Data Space" project, marking a significant breakthrough in the market-oriented allocation of data elements [2][3] - The pilot project aims to achieve at least 60% coverage of public data and 50% coverage from government, enterprises, and leading industries in Zhengzhou by 2027 [2] - The project is expected to generate profits within five years, driving the data transaction scale in Zhengzhou to exceed 10 billion and the digital economy scale to reach 800 billion [2] Group 2 - Zhengzhou Smart Technology Group has gained national recognition for its technical strength and practical achievements in supporting the construction of "Digital Zhengzhou" [3] - The group will focus on building a data service system that supports the city's digital transformation, with an emphasis on sectors such as finance, healthcare, logistics, agriculture, and AI [3] - The initiative aims to create a prosperous data ecosystem by attracting diverse data service providers and developing high-value application scenarios, contributing to the national construction of trusted data space [3]

Group 1 - The core viewpoint of the news is the IPO plans of two companies, Shiliu Yunyi and DeepGreenX, both of which have updated their prospectuses for public offerings in the first half of the year [1][2][3] Group 2 - Shiliu Yunyi (POM) plans to issue 5 million shares at a price range of $4 to $6 per share, aiming to raise between $20 million and $30 million [1] - As of December 31, 2024, Shiliu Yunyi has signed contracts with 210,000 doctors and has served 700,000 patients, with projected revenue of $46.93 million and a net loss of $5.12 million for 2024 [2] - DeepGreenX (DXG) intends to pursue a direct listing on NASDAQ, having previously applied for a listing on the New York Stock Exchange, and does not require filing with the China Securities Regulatory Commission [2] - DeepGreenX is an AI green energy data service provider, focusing on digital asset operations for sustainable green digital economy value chains, with projected revenue of $24.08 million and a net loss of $2.45 million for 2024 [3]

Core Insights - The Guizhou Comprehensive Bonded Zone is leveraging a "zone-port linkage" model to enhance its logistics capabilities and integrate into the Western Land-Sea New Corridor, aiming to become a national logistics hub and a new highland for inland open economy [1][3] Group 1: Logistics and Operations - The Guizhou Comprehensive Bonded Zone has established the first comprehensive bonded international land port in China, integrating customs, railways, and business operations [1][2] - The "zone-port linkage" model combines multi-modal logistics channels and a fully functional port operation area, enhancing international distribution, bonded warehousing, and processing services [3] - The zone is developing a multi-dimensional transportation network that connects with ASEAN countries, increasing Guizhou's participation in the global economy [3][4] Group 2: Cross-Border Transportation - In April, the first "China-Laos" cross-border truck service was launched, providing a full-chain service from domestic customs clearance to international delivery, catering to the logistics needs of Guizhou enterprises [4] - The customs policy allowing for tax refunds upon entry into the zone significantly shortens the tax refund cycle and improves cash flow for businesses [4] Group 3: Digital Economy and Data Services - A new "data cross-border circulation comprehensive service platform" is set to launch, marking a significant advancement in the cross-border flow of data elements [5] - The Guizhou Comprehensive Bonded Zone is enhancing its digital trade infrastructure, focusing on ASEAN and EU markets, and facilitating the integration of innovation, industry, supply, and value chains [6] Group 4: Performance Metrics - As of now, the Guizhou Comprehensive Bonded Zone has handled 566,300 tons of goods and a container throughput of 13,075 TEUs, with 26 trains operating on the Western Land-Sea New Corridor [6] - Various local products, including tires, tea, and clothing, are being exported through international logistics channels, highlighting the zone's role in expanding Guizhou's international trade footprint [6]

Core Viewpoint - The article emphasizes the importance of leveraging data as a new production factor to drive economic growth and improve efficiency across various industries, highlighting the need for a demand-driven approach to unlock the value of data [1][2][3]. Group 1: Data as a Production Factor - Data is increasingly integrated into various industries, enhancing the efficiency of traditional production factors such as materials, talent, technology, and capital, thereby promoting high-quality economic development [1]. - The application of data in diverse scenarios can lead to the emergence of new business models and economic growth opportunities [1]. Group 2: Industry Development Ecosystem - A robust industry development ecosystem is essential for maximizing data value, which includes nurturing data service providers and encouraging innovative operational models [2]. - The number of data service companies in China has exceeded 1 million over the past decade, playing a crucial role in activating data value [2]. Group 3: Data Security and Compliance - Ensuring data security and compliance is critical, as both corporate and personal data are sensitive and require protection of rights and privacy [3]. - Establishing a trustworthy data circulation environment involves collaboration among leading enterprises and industry associations to create a standardized and compatible data space [3]. Group 4: Market Development and Challenges - The ongoing market-oriented reform of data allocation is expected to enhance the value of data in social governance, industrial upgrading, and improving people's livelihoods [3]. - Addressing issues such as data barriers, low supply quality, and inefficient circulation is necessary to develop a fair and efficient data market [3].

Core Viewpoint - RDA (Real Data Asset) is a new concept proposed by the Shanghai Data Exchange in 2025, representing an upgraded version of stablecoins that combines data with physical assets, enabling the creation of tradable and financeable digital assets through blockchain technology [1][3]. Group 1: RDA Concept - RDA integrates real-world data (e.g., steel trading records, photovoltaic generation data) with corresponding physical assets, enhancing asset verification through data [1][3]. - RDA differs from RWA (Real World Asset) by emphasizing data validation of asset value, such as using generation data to prove the profitability of photovoltaic plants [1][3]. - The application of RDA can be illustrated through examples like the steel trade data RDA, where Shanghai Steel Union can package trading data to issue a stablecoin for cross-border trade settlements [1][2]. Group 2: A-Share Market Response - The RDA concept has sparked significant interest in the A-share market, with many stocks related to RDA experiencing substantial price increases, some over 30% in the past month [4][6]. - Notable RDA concept stocks include Information Development, which saw a 61.76% increase, and Shanghai Steel Union, which rose by 44.70% [4][5]. - The trading activity of these stocks is characterized by varying turnover rates, with some stocks like Annie Co. and Desheng Technology showing high turnover, indicating active trading [4][5]. Group 3: Fund Flow Analysis - A significant inflow of funds has been observed in RDA concept stocks, with companies like Torus, COSCO Shipping Technology, and Guodian Yuntong receiving over 200 million yuan in net inflows [6][8]. - Conversely, some stocks, such as GCL-Poly Energy and Annie Co., faced substantial net outflows, indicating mixed market sentiment [7][8]. Group 4: Financial Performance - Several RDA concept stocks reported impressive financial growth, with Information Development's revenue increasing by 142.34% year-on-year and net profit rising by 16.24% [9][10]. - Wanda Information also demonstrated strong performance with a 32.61% increase in revenue and a 10.52% rise in net profit [9][10].

Core Insights - The training program in Kashgar aims to enhance data operation skills among local officials, responding to the national digital economy strategy and accelerating digital government construction [5][6][9] Group 1: Training Program Overview - A high-level practical training course on public data authorization and operation management has commenced in Kashgar [5][6] - The training is organized by various local government bodies and supported by Guangdong Province's assistance to Xinjiang [6][8] - The program targets the development of a professional team skilled in data governance and operational practices [12][39] Group 2: Training Content and Structure - The training covers essential topics such as data elements, public data development, market demand, and data asset management [23][24] - The course format includes concentrated lectures, case studies, group discussions, and expert Q&A sessions to ensure comprehensive understanding [22][24] - The training aims to address the shortage of professional talent and practical experience in public data operations [37] Group 3: Future Development and Goals - The training is seen as a starting point for cultivating a localized data operation team, focusing on areas like smart logistics and cross-border trade [28][30] - The initiative aims to build a market-oriented public data system unique to Kashgar, contributing to high-quality digital economic development [40][41] - The program is part of broader efforts by Guangdong Province to enhance digital economic capabilities in Xinjiang, including the establishment of a data trading platform in Kashgar [49][51]

Core Concept - The article discusses the emerging concept of Real Data Assets (RDA), which transforms previously dormant data into valuable assets that can be traded or used for financing, highlighting its potential to revolutionize how companies leverage data for financial benefits [1][20]. RDA vs RWA - RDA is positioned as a more advanced version of Real World Assets (RWA), providing not just a digital representation of assets but also integrating real-time data to validate and enhance the value of those assets [3][4]. Key Companies Leveraging RDA - **Shanghai Steel Union**: Dominates the steel data market with over 70% global market share, generating 900 million yuan annually by issuing a data-backed stablecoin called "STEEL-CNY" [5][7][8]. - **COSCO Shipping Technology**: Monitors real-time data of over 5,000 global ports, transforming shipping logistics data into a payment system called "Cargo Treasure CNY," significantly reducing transaction fees [9][10]. - **Shanghai Nonferrous Metals Network**: Influences pricing in the nonferrous metals market through its established indices, allowing it to charge for pricing authority rather than just data [10]. - **Sanwei Tiandi**: Enhances data credibility through AI-driven tagging, ensuring data quality for RDA applications, and plays a role in setting RDA standards [11][12]. - **Zhongxin Saike**: Collects traffic data across 80% of highways in China, enabling infrastructure financing through packaged RDA assets [13][14]. - **Data Harbor**: Provides data center services and has begun to offer computing power as RDA assets, allowing companies to rent computing resources [14][15]. - **Huayang Lianzhong**: Utilizes advertising data from over 1 billion devices to create RDA packages that can be used for financing, enhancing the value of advertising investments [17][18]. - **Great Wisdom**: Offers financial data services and has created a closed loop for data assetization, allowing users to leverage their data for loans [18][19]. Market Trends and Implications - RDA is seen as a crucial solution for small and medium enterprises facing financing challenges, as it allows them to use real-time data as collateral for loans [20]. - The article emphasizes the importance of data monopolies and state-owned enterprises in the RDA landscape, suggesting that companies with unique data or strong government ties are better positioned to succeed [21].

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].

Group 1 - The digital economy represents a new direction for the development of productive forces, necessitating the establishment of suitable production relations to create a first-class business environment [4][5] - A first-class business environment is characterized by a high-level socialist market economy system, which marks a transition from basic support to high-level leadership in business environment construction [4][5] - The evaluation of a first-class business environment should be guided by the satisfaction of various business entities, focusing on their difficulties and issues in investment and operations [5] Group 2 - The integration of computing power, data, and algorithms is crucial for the development of the digital economy, with Hebei province making significant strides in this area [7][9] - By 2024, Hebei aims to achieve a computing power scale of 35.2 hundred billion billion times per second (EFLOPS) and collect 800 billion public data entries by 2025 [7] - The development of new productive forces is essential for the transformation and upgrading of traditional industries, with data as a key production factor driving this change [8][9] Group 3 - The construction of high-quality industrial data sets is vital for addressing challenges in the industrial internet and artificial intelligence sectors, with a focus on improving data quality and facilitating data sharing [10][11] - A comprehensive framework for data standards and a collaborative system across national, industry, and enterprise levels are necessary to enhance manufacturing efficiency [11] - The establishment of a national public data resource registration platform is set to launch in March 2025, aiming to improve data supply and security [12][13] Group 4 - Artificial intelligence is a significant driving force behind the new technological revolution and industrial transformation, with a focus on integrating AI with the digital economy [14] - The development of AI service robots is enhancing the quality of life by providing diverse services in family settings, demonstrating the potential for AI to positively impact daily life [14] - The promotion of a healthy and orderly development of the AI industry is essential for achieving high-quality economic growth [14]

Group 1 - The National Bureau of Statistics released the list of pilot projects for the innovative development of trusted data spaces for 2025, with a total of 63 projects selected, including 7 from Jiangsu Province, highlighting Nanjing's leading position in trusted data space construction [1][2] - Trusted data spaces serve as a new type of infrastructure that provides a secure and reliable environment for data circulation, effectively breaking down data silos across industries, entities, and regions, and addressing security concerns regarding multi-party data usage [1] - The pilot projects cover dimensions such as urban digital transformation, green industry development, and supply chain optimization, forming a "city + industry + enterprise" pilot model [2] Group 2 - The city trusted data space project, guided by the Nanjing Data Bureau, focuses on 13 specialized areas including financial services, transportation, and artificial intelligence, aiming to create a collaborative and shared urban data circulation ecosystem [2] - The industry trusted data space by Guojin Digital Technology Co., Ltd. integrates multi-source data such as meteorological and disaster data to build agricultural mechanization data infrastructure, providing high-value data products and services for agricultural machinery manufacturers and large farms [2] - Nanjing Iron and Steel Co., Ltd.'s enterprise trusted data space addresses core pain points in the steel industry chain, creating a secure, efficient, and interconnected data circulation system to promote the integration and sharing of data resources across different entities and platforms [2]