Core Viewpoint - The successful issuance of the first data asset securitization project in China marks a significant milestone in recognizing data as a new asset class and facilitates the transformation of data resources into capital [1][2]. Group 1: Project Details - The first phase of the "Huaxin-Xinxin-Data Asset 1-5 Phase Asset-Backed Special Plan" was officially issued on July 31, with a scale of 133.7 million yuan and a priority ticket interest rate of 2.0% [1]. - The project involves nine participating enterprises from Jiangsu, Zhejiang, Shaanxi, and Jiangxi provinces, including listed companies and private enterprises, showcasing a diverse range of ownership structures [1]. Group 2: Innovation Mechanism - The project employs an innovative mechanism that allows multiple data assets to be pledged for loans, demonstrating the feasibility of using data assets as collateral for financing [2]. - This model breaks the traditional reliance on physical assets for financing, providing new funding pathways for asset-light data companies [2]. Group 3: Market Impact - Following the approval of this project, there has been an acceleration in financial innovation related to data assets, with other similar projects successfully launched within three months [3]. - The impact of data asset securitization is expected to extend across multiple sectors, promoting the establishment of a unified national data market [3].

Core Viewpoint - The emergence of data asset securitization represents a significant breakthrough in capitalizing on data as an independent asset class, with the first asset-backed securities (ABS) plan achieving a total scale of 500 million yuan [1][5]. Group 1: Data Asset Securitization Overview - Data asset securitization transforms future cash flows from data assets into tradable financial products, representing an innovative approach to traditional asset securitization [2]. - The journey of data asset securitization has been challenging, with no mature cases in domestic or international markets, but the commercial value of data is increasingly recognized by enterprises [3]. Group 2: Challenges in Data Asset Securitization - The main challenges in data asset securitization include difficulties in data rights confirmation, value assessment, and compliance risk management [4]. - Data rights confirmation is complicated due to diverse sources and complex ownership relationships, while value assessment is hindered by inconsistent data quality and a lack of mature evaluation methods [4]. Group 3: Solutions Implemented by Companies - The data asset securitization plan by Xin Xin Commercial Factoring Co., Ltd. has addressed these challenges by collaborating with various institutions for data rights registration and issuing certificates [5]. - For valuation, the company has partnered with accounting and asset evaluation firms to establish multi-dimensional valuation models, ensuring measurable data assets [5]. Group 4: Future Prospects and Policy Support - Data asset securitization is seen as a unique financial innovation with significant promotional value and development potential, with plans to refine and standardize products based on high-value data scenarios [6]. - Policy initiatives, such as the "Three-Year Action Plan for Data Elements," aim to promote the integration of data elements with financial services, indicating strong governmental support for this sector [7][8]. - The data market is projected to grow significantly, with a forecasted market size of 827.78 billion yuan by 2030, driven by policy support and technological advancements [9].