Core Insights - The exploration of data asset financing has made significant progress, with successful agreements and initiatives indicating the potential for data as a new financial asset [1][2][3] Group 1: Recent Developments - On September 25, Shanghai achieved its first commercial secret (data product) pledge financing loan agreement of 50 million yuan, standardizing and visualizing the valuation and registration of commercial secrets [1] - The "Huaxin-Xinxin-Data Asset Phase 1 Asset-Backed Special Plan," which includes data assets from nine enterprises, was listed on the Shenzhen Stock Exchange on September 17, marking a milestone in data asset securitization [1] - The first data property registration certificate in Hangzhou was issued on August 19, further clarifying data ownership and promoting data circulation [1] Group 2: Challenges in Data Asset Financing - Despite the potential, many financial institutions still view data assets as "formal pledges," with the current data asset financing scale only reaching 1.39 billion yuan by the end of 2024 [1][2] - Key challenges include unclear rights confirmation, chaotic valuation, and inefficient circulation, which hinder the transformation of data into a liquid and monetizable asset [1][2] Group 3: Need for Framework Improvement - There is a need for a more innovative framework for data asset financing, including collaboration between developed regions and central-western provinces, and breakthroughs in financing for various data types across key sectors [2] - The establishment of a collaborative business chain involving enterprises, exchanges, and evaluation institutions is crucial for the capitalizing of data [2] Group 4: Recommendations for Overcoming Barriers - To address the financing challenges, a dual guarantee system of institutional and technical support is necessary, including accelerating data property legislation and establishing a unified national data asset registration platform [3] - Financial institutions should adopt pilot strategies with compliant enterprises, implement margin systems, and utilize technologies like blockchain for data monitoring [3] - The essence of data asset financing is to convert the potential of the digital economy into driving force for the real economy, requiring continuous policy efforts and collaborative innovation from various stakeholders [3]