Core Insights - Data is increasingly recognized as a new production factor, driving high-quality development across various sectors including production, distribution, circulation, consumption, and social service management [1] - The 2025 Data Element Development Conference held in Hangzhou highlighted the importance of data asset management and the establishment of a market-oriented data element configuration reform [1] Group 1: Data Element Development - Hangzhou has established a "Three Data One Chain+" framework, achieving national-level interconnectivity verification [1] - The city has been selected for national pilot projects, including a trusted data space for marine resource environment and a model scenario for data circulation security governance [1] - The city is pioneering data property rights registration to clarify ownership boundaries, addressing long-standing issues in data circulation and trading [1] Group 2: Financial Innovation and Data Assets - The issuance of certificates with unified coding acts as a "legal ID" for data, reducing trust costs among business entities and ensuring compliance in subsequent transactions [2] - Hangzhou's Lin'an Smart City Development Company received the first data property rights registration certificate, enabling it to secure a 5 million yuan loan from Agricultural Bank of China [2] - The introduction of data property rights certificates as a core credit enhancement measure is seen as a breakthrough in realizing the financial value of data elements, particularly for technology-driven, asset-light enterprises [2] Group 3: Promoting Data Flow and Economic Empowerment - The Hangzhou Data Resource Management Bureau aims to construct "China Data Valley" to eliminate data barriers and promote the efficient flow of data elements in a unified market [3] - The initiative is expected to stimulate the multiplier effect of data elements, enhancing their role in empowering the development of the real economy [3]

Core Insights - The issuance of the first data property registration certificate in Hangzhou marks a significant breakthrough in addressing the core challenges of data element circulation and ownership recognition [1] - The establishment of a data property registration system is crucial for clarifying data ownership and promoting data circulation and trading [1][3] Group 1: Data Property Registration Developments - Multiple regions in China are exploring differentiated approaches to data property registration, with Hangzhou issuing its first certificate for a data asset related to smart parking [2] - In Guizhou, a tourism company successfully registered 45 core data elements, leading to the first case of data intellectual property pledge financing in the tourism industry [2] Group 2: Legal and Technical Framework - Data property registration creates a "digital identity" for data, establishing traceability for data sources, processing, and usage, thus reducing moral risks in data transactions [3] - The implementation of laws such as the Data Security Law and the Personal Information Protection Law is clarifying the data property system, requiring companies to disclose data handling processes [3] Group 3: Impact on Companies - Registered data assets can enhance the net assets of listed companies and enable them to secure higher amounts of pledge loans or issue asset-backed securities [4] - Data assets are becoming a significant indicator of "hard technology" attributes for listed companies, attracting interest from industrial capital and investment institutions [4]

Core Insights - The issuance of the first data property registration certificate in Hangzhou marks a significant breakthrough in addressing the core challenges of data element circulation and ownership recognition [1] - The establishment of a data property registration system is crucial for clarifying data ownership and promoting data circulation and trading [1][3] Group 1: Data Property Registration Developments - Multiple regions in China are exploring differentiated approaches to data property registration, including various registration systems, certificate types, and application scenarios [2] - The first data property registration certificate in Hangzhou was awarded to Lin'an Smart City Development Co., which completed its first transaction with a local electric vehicle charging company [2] - In Guizhou Province, the tourism industry is advancing data assetization, with a tourism group obtaining dual registration for 45 core data elements, leading to a pioneering case of data intellectual property pledge financing [2] Group 2: Legal and Technical Framework - Data property registration establishes a traceable "digital identity" for data through legal and technical means, transforming data usage from unrestricted access to ownership and control [3] - The implementation of laws such as the Data Security Law and the Personal Information Protection Law is clarifying the data property system, requiring companies to demonstrate the legality of data processing [3] - Data property registration not only clarifies data ownership but also activates data value, providing differentiated advantages for various types of companies, particularly listed companies [3] Group 3: Impact on Listed Companies - Registered data assets can directly enhance the net assets of listed companies, allowing them to secure higher amounts of pledge loans or issue data asset-backed securities (ABS) [4] - Data assets are becoming an important indicator of the "hard technology" attributes of listed companies, attracting interest from industrial capital and investment institutions [4]