Core Viewpoint - The article emphasizes the need for local governments to develop new financial models that support new factors of production, focusing on value formation, capital support, and ecological collaboration to foster innovative productivity and drive economic growth during the "14th Five-Year Plan" period [1][2]. Group 1: Financial Model for New Factors - Local governments should create financial models that serve new factors of production, focusing on financialization, monetization, and securitization to enhance financial services for these new factors [3]. - The financialization of factors is crucial for discovering their prices and enhancing their value, which is essential for financing new factor enterprises [3]. - Local governments are encouraged to explore financialization paths that align with local characteristics, including promoting data factor marketization and establishing data trading platforms [3]. Group 2: Capital Introduction for New Factor Enterprises - There is a need to attract "patient capital" for the high-quality development of new factor enterprises, which often face challenges in obtaining credit due to long R&D cycles and unclear business models [4]. - Local governments should build a capital supply system that includes specialized fund aggregation platforms to improve the efficiency of capital and project matching [4]. - A comprehensive venture capital service system should be established to support project selection, due diligence, and talent introduction, creating an ecosystem for capital and innovation [4]. Group 3: Dual Empowerment of Financial Services and Industry Development - Financial services should be integrated with industry development to create a dual empowerment effect, where digital technology enhances financial capabilities and financial capital accelerates the development of digital industries [5]. - Local governments are urged to promote the deep integration of financial elements with digital industry systems, encouraging collaboration among leading enterprises, platform companies, and financial institutions [5]. - Financial institutions should develop financial products tailored to the characteristics of the digital industry, such as supply chain finance and algorithm-driven credit assessments [5]. Group 4: Case Study of Hangzhou - Hangzhou has innovatively explored a comprehensive financial service model that integrates industry, data, and finance to support the growth of new industries and technologies [6]. - The city has established a data trading center and is implementing regulations to facilitate data assetization and securitization, becoming a pioneer in data trading legislation [6][7]. - Hangzhou's financial innovation has led to the creation of customized financial tools that replace traditional collateral with new factors like talent and intellectual property, effectively supporting the digital economy [8].

Core Insights - The article discusses the implementation of data intellectual property (IP) pilot programs in Zhejiang Province, highlighting its potential to transform data resources into new economic growth drivers [1] Group 1: Institutional Framework - Zhejiang has established a regulatory framework for data IP, incorporating it into two local laws and creating a registration system involving ten departments, which has led to the issuance of 22,000 registrations from 27 provinces, enhancing data vitality [2] - The registration certificates serve as preliminary proof for data ownership, circulation, and rights protection, effectively safeguarding data rights [2] Group 2: Data Trading and Services - The "Shuzhitong" integrated service platform for data IP has been launched, connecting eight national trading platforms and 180 service agencies, facilitating smoother data transactions [2] - The platform has pushed 7,006 data IP items and achieved 1,126 successful conversions, generating a total transaction value of 3.914 billion [2] Group 3: Value Realization - A total of nearly 7.7 billion has been realized through various data IP utilization paths, including trading, financing, and cross-border circulation [3] - Notable cases include a data IP "going abroad" agreement with a South Korean company and the first pure data IP securitization product launched in Hangzhou [3] Group 4: Application Scenarios - Six key products have been identified to enhance data value in sectors like AI, marine data, traditional crafts, agriculture, creative industries, and urban traffic management [4] - For instance, AI data sets have seen 860 high-quality registrations, and a data-driven agricultural project has improved product quality by 20% [4] Group 5: Rights Protection - A national data IP court has been established, creating a secure environment for data rights protection by integrating with judicial systems [5] - A major tech group has implemented a dual protection strategy combining business secrets and data IP, successfully winning over 30 million in a recent unfair competition case [5]