Looking ahead to 2024, data elements will move from a policy-driven stage to a new stage of “government and production” resonance. Data infrastructure, authorized operation of public data, data asset registration and evaluation, and data application may gradually undergo obvious marginal changes.
The Zhitong Finance App learned that CITIC Construction Investment Securities released a research report saying that data elements, as a new factor of production, are a major theoretical innovation leading the world from the top down in China, and have been fully elevated to the level of national strategy. On the theoretical side, deepening and expanding, data elements are being visualized at an accelerated pace; on the policy side, the driving force at the top level continues to increase, and deepening implementation has become the main theme; on the industrial side, industrial demand is gradually being released, and the trillion-dollar blue ocean market is about to be launched. Looking ahead to 2024, data elements will move from a policy-driven stage to a new stage of “government and production” resonance. Data infrastructure, public data authorization and operation, data asset registration and evaluation, and data application may gradually undergo obvious marginal changes, gradually completing the transition from policy-driven to endogenous driven. Recently, it is recommended to focus on public data and related investment opportunities such as data asset evaluation and listing.
The main views of CITIC Construction Investment Securities are as follows:
Theoretical side: focus on deepening and expanding, accelerate the visualization of data elements
As a major theoretical innovation leading the world from the top down in China, data elements are in a stage of dynamic evolution and competition among hundreds of families. In terms of deepening, after the circular evolution of “research and practice” in recent years, the data element theoretical system continues to be deepened and the outline continues to be clarified, and official authorities such as data element X, data infrastructure, data assets, and public data assets continue to increase; in terms of development, new concepts and new directions continue to emerge, promoting the implementation of data element infrastructure, transaction circulation, application scenarios, and supervision and governance. Looking ahead to 2024, the data element theory system may continue to lead, and the standardization and standardization of research results will accelerate.
Policy side: The driving force at the top level continues to increase, and going deeper into reality has become the main theme
Institutional construction has achieved phased results, gradually moving into the deep-water zone. At the national level, key issues were initially solved. At the national level, the basic institutional framework for data elements has been formed, and key issues have been initially solved; at the ministry level, the “division of labor” continues to be clarified; at the local level, the “iron triangle” of data elements has been initially established. Since the official listing of the National Data Administration, it has actively coordinated the development of data elements and promoted the initial formation of national data work. Overall, as top-level driving forces continue to increase, China's data element development pattern has substantially changed. Looking ahead to 2024, a series of data element policies may enter a period of intensive implementation, and it is worth looking forward to pilot demonstrations leading the development of the industry.
Industrial side: Industrial demand is gradually being released, and the trillion-dollar blue ocean market is about to launch
As a new stage in the deep evolution of the big data industry, the data element industry has gradually formed an industrial framework with data circulation as the core link. According to preliminary forecasts, China's data element circulation market will reach 500 billion to 1 trillion during the “14th Five-Year Plan” period. Currently, the development of the data element industry has progressed in stages, the market education stage is gradually being completed, and when demand for data asset evaluation and registration is exploding, there is room for market development to be expected. Looking ahead to 2024, data elements will move from a policy-driven stage to a new stage of “government and production” resonance. Data infrastructure, public data authorization and operation, data asset registration and evaluation, and data application may gradually undergo obvious marginal changes, gradually completing the transition from policy-driven to endogenous driven. As the process of the data element industry accelerates, leading companies may take the lead.
Risk analysis:
(1) Macroeconomic downside risk: As an emerging industry, data elements are in the early stages of development and need more policy and financial resources to support them. Since 2023, the overall macroeconomic recovery trend has been weak. If the subsequent macroeconomic recovery process is slow, it will have a certain impact on the development of data factors.
(2) The promotion of data element policies falls short of expectations; data elements are currently moving from being policy-driven to a stage of “government and production” resonance. If the promotion and implementation of related policies such as data infrastructure, public data, and data assets fall short of expectations, it will have a certain impact on the development of data elements.
(3) The development of digital technology falls short of expectations: The development and breakthroughs in technologies such as artificial intelligence, blockchain, and privacy computing are essential for the efficient and safe circulation of data elements. If relevant digital technology falls short of expectations, it will be difficult to solve the key difficulties and blockages in the development of the data element industry, which will have a certain impact on the development of the data element industry.