Promoting efficient circulation and use of data (People's Daily Review)

Data elements are becoming the most advanced and active new production factors beyond labor, land, capital, and technology, and an important foundational and strategic resource for high-quality development

Data resources are the core element of building a digital China. Industry digitization, education digitization, life digitization, entertainment digitization... Currently, many fields in China are transitioning towards digitization, and new economic formats with data elements as the core are becoming increasingly diverse. In the process of building and releasing value in the data element market, data exchanges are an indispensable part.

At present, there are multiple data exchanges initiated, led or approved by the government across the country. At the same time, the construction of market operation systems such as data asset evaluation, registration and settlement is accelerating, and specialized enterprises in fields such as data collection, storage, and application are developing rapidly. The data element industry system is preliminarily forming. The Digital China Development Report released by the State Internet Information Office shows that the scale of China's big data industry will reach 1.57 trillion yuan in 2022, up 18% year on year; The data production reached 8.1ZB, a year-on-year increase of 22.7%, accounting for 10.5% of the global data volume. Data elements are becoming the most advanced and active new production factors beyond labor, land, capital, and technology, becoming important foundational and strategic resources for high-quality development, driving continuous changes in economic structure, enterprise models, and scientific paradigms.

There are multiple ways to conduct data transactions, and building a standardized and efficient data trading venue is highly efficient, cost-effective, and has better security.To do a good job in data circulation and trading, data exchanges should focus on promoting the connection between data trading and nodes such as data collection, storage and processing, analysis and application, promoting each other, actively promoting the marketization of data elements, and working together to build a data element market system.

Promoting data circulation and trading is necessary to better leverage the price discovery function of the market and enable data elements to fully participate in market allocation. Exchanges across the country are actively enriching data products and improving the digital commerce ecosystem. For example, Beijing proposes to strive for a data element market size of 200 billion yuan by 2030; The Shanghai Data Exchange has listed over 1300 data products in finance, shipping and transportation, international and other fields; Since its establishment, Shenzhen Data Exchange has launched over 1500 data products. However, compared to the requirements of high-quality development and the massive generation of data, the circulation and trading of data are not yet active enough. Recently, the Shanghai Data Exchange released the "Data Element Market Prosperity Plan", setting up a special incentive fund of 100 million yuan to develop incentive plans from three aspects: supporting data product registration, encouraging data product trading, and cultivating high-quality digital commerce enterprises. This measure has a positive effect on active on exchange trading and stimulating market vitality.

It should also be noted that unlike the clear, non replicable, and relatively scarce characteristics of general production factors, the subject and ownership of data elements are usually very complex and difficult to confirm. They are non scarce elements and have replicability, immediacy, and virtuality. Therefore, while protecting intellectual property rights, it is particularly important to ensure that data flows in a compliant and reasonable manner, and to serve high-quality development more efficiently. At present, China has introduced laws and regulations such as the Data Security Law and the Personal Information Protection Law, and has made positive progress in exploring and promoting the marketization of data elements. The next step is to further promote reform and innovation, strengthen legal thinking, promote the rapid integration of data elements into various links such as production, distribution, circulation, consumption, and social service management, promote the efficient circulation and use of data, and accelerate the release of the digital economy dividend.

Digital technology and digital economy are the pioneers of the world's technological revolution and industrial transformation, and are the key areas of a new round of international competition. By leveraging platforms and carriers such as data exchanges, we can promote the creation, application, and trading of data products, turning data into resources and resources into advantages. We are committed to strengthening, optimizing, and expanding the digital economy, and seizing the commanding heights of future development.