Core Viewpoint - The Chinese government has emphasized the steady development of asset securitization, particularly focusing on data assets, marking a significant step towards integrating data elements with financial services [1][2]. Group 1: Market Development - As of September 2025, China has issued a total of 7 data asset ABS products, amounting to 2.49 billion yuan [2]. - The first approved data asset securitization project was launched in July this year, with an issuance scale of 133.7 million yuan and a priority ticket interest rate of 2% [1][2]. Group 2: Industry Standards and Ecosystem - The establishment of the first data asset securitization ecological alliance aims to innovate and standardize the data asset securitization business, transforming dormant data resources into tradable capital [4]. - The process of data asset securitization is seen as a significant breakthrough in recognizing data elements as a new asset class, facilitating the conversion of data resources into capital [2][4]. Group 3: Challenges and Recommendations - The lack of traditional collateral for data assets makes it difficult to obtain loans from banks, but data asset securitization provides a new channel for low-cost financing [3]. - There are challenges in defining basic assets, establishing a unified valuation system, and standardizing operational processes, which hinder the capitalized implementation of data assets [5]. - It is recommended to expand sustainable revenue models through data licensing, subscription services, and commercial scenarios to create quantifiable cash flow foundations [5].