Core Insights - The establishment of a unified national data market is crucial for enhancing data flow and optimizing resource allocation, which will significantly contribute to technological innovation, industrial upgrading, and economic growth [1][3] - In 2024, China's data production is expected to reach 41.06 zettabytes, doubling from the end of the 13th Five-Year Plan period, indicating a robust growth in the digital economy and an urgent need for data market development [1][3] Group 1: Market Development - A significant increase in the number of digital technology companies has been observed, with nearly 500 new companies established by central enterprises [1] - In the second quarter of this year, over 2,600 new supply and demand entities were added to major data trading institutions, reflecting a growing interest in data services [1] - The number of new data products launched by major data trading institutions reached 3,328 in the first half of the year, a 70% year-on-year increase, with high-quality data set products increasing by 2.8 times [2] Group 2: Policy and Infrastructure - The development of a national integrated data market is a long-term project that requires market-oriented reforms and a comprehensive framework for data market rules [2][3] - There is a need to improve the "soft environment" for data trading by promoting mutual recognition among data trading institutions and establishing standardized contracts to reduce transaction costs and enhance efficiency [2] - Strengthening data infrastructure and establishing unified standards and technical frameworks are essential for ensuring secure and efficient data flow [3]

Core Insights - The Chinese government is emphasizing the development of a data market as part of its "14th Five-Year Plan," highlighting significant achievements in digital China construction [1][2][3] Group 1: Institutional Framework - The regulatory framework for data has become clearer, with the issuance of the "Data Twenty Articles" in 2022, which established a three-tier system for data ownership, usage, and operation rights [1] - Over 50 supporting policies have been introduced by various departments, and more than 20 localities have enacted data regulations, with 10 comprehensive pilot zones for data elements actively exploring institutional advancements [1] Group 2: Data Supply - Data supply has become more abundant, with 3,328 new data products launched by major trading institutions in the first half of the year, representing a 70% year-on-year increase [2] - High-quality datasets in the artificial intelligence sector saw a remarkable growth of 280% year-on-year, addressing various industry pain points, such as the introduction of the "Social Security e-Loan" product by a local rural commercial bank [2] Group 3: Market Ecosystem - The data market ecosystem has become richer, with nearly 500 new digital technology companies established by central enterprises, and a significant number of leading firms in finance, manufacturing, and the internet actively procuring data [2] - In the second quarter alone, over 2,600 new supply and demand entities were added to major data trading institutions, alongside the rapid growth of companies specializing in data annotation, governance, and trading services [2] Group 4: Market Infrastructure - The infrastructure for the data market is being strengthened, with the issuance of guidelines for national data infrastructure construction and the promotion of innovative pilot projects for trusted data spaces [3] - Efforts are being made to optimize the layout of data trading institutions and facilitate mutual recognition of data products across regions, which is expected to enhance transaction efficiency by over 30% [3]

Core Viewpoint - The article highlights the significant achievements and future plans for digital China construction during the "14th Five-Year Plan" period, emphasizing the rapid development of digital infrastructure and the importance of data as a production factor for economic growth [1][3][10]. Group 1: Digital Infrastructure Development - The digital infrastructure in China has made substantial progress, with 5G base stations increasing fivefold to 4.55 million and gigabit broadband users growing 34 times to 226 million by mid-2025 compared to 2020 [3]. - The total computing power ranks second globally, supporting economic and social development [3]. - A complete industrial chain for integrated circuits has been established, covering design, manufacturing, packaging, testing, materials, and equipment [3]. Group 2: Data Market and Value Release - The National Data Bureau is promoting the market-oriented allocation of data elements, with over 3,328 new data products launched by major data trading institutions in the first half of the year, a 70% year-on-year increase [4]. - High-quality data set products increased by 2.8 times year-on-year, enhancing data utilization across various industries [4]. - The agricultural sector has seen a 5.5% increase in yield through data-enabled smart fertilization, while the industrial sector improved drilling decision efficiency by 15 times using massive well data [6]. Group 3: Data Industry Growth - The data industry is rapidly growing, with projections indicating over 400,000 data companies and a market size of 5.86 trillion yuan by 2024, a 117% increase from the end of the "13th Five-Year Plan" [6]. - The Yangtze River Delta is expected to account for 22.6% of the national data industry scale by 2024, with over 100,000 data companies [7]. Group 4: Data Circulation and Infrastructure - By the end of the year, the number of data circulation node cities will expand to around 50, covering 80% of provinces [9][11]. - The National Data Bureau has established data circulation nodes in 25 cities, laying the foundation for large-scale cross-regional data circulation [11]. Group 5: High-Quality Data and AI Support - High-quality data is crucial for the deep integration of "Artificial Intelligence+" applications, with daily token consumption increasing from 1 trillion to over 30 trillion in just 1.5 years [14]. - Over 35,000 high-quality data sets have been built, totaling more than 400PB, with a trading volume of nearly 4 billion yuan for high-quality data sets [14]. - New models like "data corpus equity investment" are being piloted in cities like Shanghai and Tianjin to convert high-quality data into equity [13][14].

Core Viewpoint - The article discusses the achievements and future plans of China's digital economy development during the "14th Five-Year Plan" period, highlighting the rapid growth of digital infrastructure and data industry, as well as the implementation of new policies to enhance data utilization and marketization [1][3][5]. Group 1: Digital Infrastructure Development - China's digital infrastructure has significantly advanced, with the number of 5G base stations increasing fivefold to 4.55 million compared to 2020, and gigabit broadband users growing 34 times to 226 million [3]. - The total computing power ranks second globally, contributing to economic and social development [3]. - The domestic operating system, represented by Harmony OS, has seen its ecosystem devices exceed 1.19 billion, integrating "smart cores" into over 1,200 product categories [3]. Group 2: Data Industry Growth - The data industry is rapidly expanding, with projections indicating over 400,000 data companies and a market size of 5.86 trillion yuan by 2024, reflecting a 117% increase from the end of the "13th Five-Year Plan" [7]. - High-quality data products have surged, with 3,328 new data products launched in the first half of the year, a 70% year-on-year increase, and high-quality datasets increasing by 2.8 times [4][6]. Group 3: Policy Initiatives - The National Data Bureau plans to introduce over 10 new policies, including data property rights, to facilitate the marketization of data elements [2][5]. - A series of pilot projects for data industry clusters are being deployed to optimize industrial layout and enhance ecosystem advantages [8]. Group 4: Data Utilization and Applications - Data-driven applications are enhancing various sectors, with examples including a rural bank using social security data to launch a financial product that reduced non-performing loans to 0.28% [4]. - The agricultural sector has seen a 5.5% increase in yield through data-enabled smart fertilization, while industrial applications have improved drilling decision efficiency by 15 times [7]. Group 5: Data Circulation and Infrastructure - By the end of the year, the number of data circulation node cities is expected to expand to around 50, covering 80% of provinces, laying the foundation for large-scale data circulation [9][10]. - The establishment of a unified standard and technical framework is crucial for achieving large-scale data circulation across different industries and regions [9]. Group 6: Innovative Data Models - New models such as "data corpus pricing as equity" are being piloted in cities like Shanghai and Tianjin, allowing companies to convert high-quality datasets into equity investments [11][12]. - The construction of high-quality datasets is supported by data annotation bases in cities like Chengdu and Shenyang, facilitating the development of AI applications [12].