According to the Intelligent Financial News mobile app, on August 27, Chen Ronghui, Deputy Director of the National Bureau of Statistics, stated at the 2024 China International Big Data Industry Expo that a policy document on the development and utilization of enterprise data resources divides the data into three categories: public data, corporate data, and personal data. The public data document will be issued soon, and the document on the development and utilization of enterprise data resources is currently undergoing wide-ranging solicitation of opinions. The personal data document is also under research.

The National Bureau of Statistics has stated that the data industry is growing rapidly, with increasing demands for data collection, storage, computation, management, and utilization. China's data industry is showing a rapid growth trend and is expected to maintain an annual growth rate of over 20% in the next few years.

The National Bureau of Statistics also mentioned that, as of now, there is still a large potential for the release of the value of enterprise data resources. The focus will be on strengthening the protection of the legitimate data rights and interests of enterprises, promoting the sharing and openness of enterprise data, encouraging innovation by small and medium-sized enterprises through the use of data, improving the effectiveness of data compliance governance, and further enhancing the market-driven mechanism for evaluating contributions and determining rewards, in order to increase the intrinsic motivation for the development and utilization of enterprise data resources.

Recently, the leaders of the National Bureau of Statistics have been speaking frequently, and relevant policies are expected to be introduced soon. On July 2, Liu Liehong, Secretary of the Party Leadership Group and Director of the National Bureau of Statistics, stated at the 2024 Global Digital Economy Conference that the National Bureau of Statistics will take institutional construction as the main focus and will successively launch eight institutional documents this year, including data property rights, data circulation, revenue distribution, security governance, public data development and utilization, enterprise data development and utilization, high-quality development of the digital economy, and data infrastructure construction guidelines.

As the new round of technological revolution and industrial transformation deepens, the value of data as a key production factor is becoming increasingly prominent. Leveraging the characteristics of increasing returns to data factors and low-cost reusability can optimize resource allocation, empower the real economy, develop new quality productive forces, drive profound changes in production, life, economic development, and social governance, and is of great significance for promoting high-quality development.

The reform of market-oriented allocation of data factors is expected to cultivate a huge data industry. The data industry involves the development of products and services using data technology and the formation of an industrial form in the process. Data is an important production factor and is a key driving force for the upgrading of the digital economy, the construction of a digital government, and a digital society, and is expected to become a significant engine in building a modern economic system.

According to the Digital China Development Report, the total national data production in 2023 reached 32.85ZB, a year-on-year increase of 22.4%. Over-the-counter data trading is dominant, and the scale of on-exchange data trading is growing rapidly. Taking the Shanghai Data Exchange as an example, the on-exchange trading volume in 2023 increased significantly from 0.1 billion yuan in 2022 to over 1.1 billion yuan, and the scale in the first 5 months of 2024 has remained the same as the full year of 2023, with an expected 3-4 times year-on-year growth for the full year of 2024.

By the end of 2023, dozens of provinces and cities across the country have launched public data operation platforms, and more than 20 provinces and cities have established specialized data trading institutions. Currently, many places have issued measures or solicited opinions on the authorization and operation of public data.

According to relevant data from the National Center for Security Development Research, in 2021, the market size of China's data factor reached 81.5 billion yuan, and it is expected that the compound growth rate of the market size during the "14th Five-Year Plan" period will exceed 25%. By 2025, the market size is expected to reach nearly 200 billion yuan. With the deepening of market-oriented allocation reform of data factors, the data industry is expected to further develop.

Changjiang Securities stated that the National Bureau of Statistics is expected to release relevant policies in the near future. The institution believes that with the gradual improvement of top-level design, there may be substantive progress in policies related to data factors, and data factors are expected to enter a period of rapid development. It is recommended to pay attention to manufacturers with data resources or data product development capabilities and have fully explored business models for data factor transactions.

Related concept stocks:

GDS Holdings (09698): As the largest third-party data center operator in China, GDS Holdings has always adhered to the development strategy of "domestic + international" dual-drive. During the reporting period, the company's domestic business steadily advanced, and it also received two large-scale orders. The newly-built data center in Langfang has been put into operation, and the Phase II of the project has started construction. With a net floor area of 6,328 square meters, it has been 100% booked.

Vobile Group (03738): While mastering core patented technologies such as genetic digital fingerprints and watermarks for film and television, Vobile actively explores the application opportunities of digital content rights protection and transactions in the context of Web3.0 and AI development trends. With the rapid development of China's digital cultural industry, the demand for rights protection, circulation, and trading of digital assets has become more vigorous. Combined with Particle Technology's extensive application in media asset management technology products in Vobile's business, Vobile will maintain a leading position in the Web3.0 & AI development wave.

China United Network Communications (00762): During the 2023 China Computing Power Conference, China Unicom unveiled the Ningxia Computing Power Ecological Joint Innovation Center, which is dedicated to helping Ningxia build a national computing power technology innovation base and promote the construction of a nationally integrated big data center collaborative innovation system. China Unicom Ningxia Branch and Baidu, Huawei, ZTE, and other 50 partners signed the "Eastern Data, Western Computing" strategic cooperation agreement.