16 ASIAN LEGAL BUSINESS CHINA • 亚洲法律杂志-中国版 MARCH 2024 Data is increasingly recognized and embraced as a crucial production factor, often likened to the “new oil” fueling the digital economy. Since 2021, China has been leading globally in establishing comprehensive rules and regulatory frameworks for data protection. Building on this momentum, over the past two years, the country has continued to take the forefront in formulating and implementing robust rules and systems for data assetization, solidifying its position in digital economic governance. According to Zou Danli, partner at Commerce & Finance Law Offices, China has reached three key milestones in toplevel design for data assetization since the end of 2022. The first milestone is the promulgation of the Opinions on Building a Data Infrastructure System to Better Play the Role of Data in December 2022. “This document provides a framework for the field of data. Its core innovation lies in the concept of data property rights, which clarifies the right to receive proceeds from data and the right to use data while sidestepping the issue of ownership.” Once the basic property rights system was established, the possibility of data assetization was immediately opened up. In August 2023, the Ministry of Finance issued the Interim Provisions on Accounting Treatment of Enterprise Data Resources, “specifying how the data assets of an enterprise should be DATA COMPLIANCE With data emerging as a crucial “new type of production factor,” China has rolled out various initiatives to tap into its economic potential. It’s projected that by 2030, the market value of China’s data trading industry will skyrocket to 516 billion yuan ($72 billion). This rapidly growing sector calls for specialized legal services, covering rights confirmation, compliance, and deal structuring. Pioneers in data trading are actively discussing the distinctive opportunities and challenges posed by this evolving field. 数据作为“新型生产要素”的重要性不断提升，中国采取各项措施激发数据的经济效益。预期到2030年，中国数据交易行 业市场规模有望达到 5155.9 亿元。数据交易在确权、合规、交易架构等方面都需要律师提供专业服务，部分“先行者”与 ALB分享了这一领域的机遇和挑战。 BY HU YANGXIAOXIAO 作者：胡阳潇潇 DATA: THE NEW OIL 探索数据资产
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