【Metaverse News】Shanghai: Support the establishment of a digital asset sector at the Shanghai Data Exchange

The General Office of the Shanghai Municipal People's Government has issued the Action Plan for Promoting the Innovative Development of Data Element Industries Based on the New Track of the Digital Economy (2023-2025). It is proposed to stimulate the vitality of various enterprises in creating and using data. Enhance the data operation capabilities of state-owned enterprises and promote the construction of enterprise data centers. Enhance the level of multinational enterprises' 'cloud access, digital empowerment'. Strengthen data empowerment for the digital transformation of small and medium-sized enterprises, leverage the role of Shanghai's enterprise service cloud, support data merchants to enrich data products, and support public sectors, state-owned enterprises, etc. to increase their procurement efforts for data products and services for small and medium-sized enterprises. Guide internet platform enterprises, industry leading enterprises, and small and micro enterprises to have two-way fair authorization, and establish a scientific and reasonable mechanism for income distribution. Support the establishment of a digital asset sector at the Shanghai Data Exchange, and study the mechanism for listing, issuance, and circulation of digital assets in combination with the real economy.

Improving the level of Shanghai Data Exchange is the first key task of the Action Plan. The Action Plan clearly states that we will build a national level data exchange, rely on the National Data Trading Alliance, and deepen cooperation among data trading institutions. The National Engineering Research Center of the data element market was established, and the "Shanghai Data" market development index was established. Organize multi sector operations, establish an international board, and promote overseas data trading in Shanghai. Strengthen key sectors such as finance, shipping, commercial logistics, technology, and manufacturing, cultivate characteristic sectors such as communication, healthcare, transportation, energy, and credit, and accelerate the entry and transaction of various enterprises. Establish a data circulation compliance system, improve the hierarchical operating procedures and security standards for data resources, products, and asset classification, explore the establishment of a data transaction arbitration mechanism, and improve the regulatory mechanism for the operation of data trading venues. Facing the nationwide layout of hub platform facilities such as data trading chains, utilizing blockchain technology to promote the interconnection of trading institutions, mutual recognition of data and business entities, and on-site and off-site trading links, we will establish a unified registration and certification service system for data resources, products, and assets. By 2025, 5000 tradable data products will be listed to serve 100000 data supply and demand entities.

According to the Action Plan, the Shanghai Data Exchange will also play a key role in multiple tasks. For example, exploring the formation of a data asset evaluation mechanism linked by the Shanghai Data Exchange's floor trading; Support the establishment of a digital asset sector at the Shanghai Data Exchange, and study the mechanism for listing, issuance, and circulation of digital assets in combination with the real economy; Build the Yangtze River Delta section of the Shanghai Data Exchange, strengthen intercity cooperation, and improve the efficiency of regional data element allocation; Support various entities to purchase data products through the Shanghai Data Exchange, and those who meet the conditions can enjoy the policy of tax deduction for research and development expenses in accordance with regulations; Fully leverage the role of mechanisms such as the Shanghai Singapore Comprehensive Cooperation Council and Shanghai Hong Kong cooperation, strengthen the global promotion of the Shanghai Data Exchange, support the construction of the Asian Data Element Market Research Institute, and continue to hold the Global Data Business Conference well.

The Action Plan proposes that by 2025, the data element market system will be basically established and the status of national data exchanges will be basically established; The driving force of the data element industry has been fully unleashed, with a scale of 500 billion yuan and an annual compound growth rate of 15%, attracting 1000 digital business enterprises; Build a digital chain integration system.