Wenzhou Digital Security Port: Exploring New Paths for Data Element Market Allocation and Empowering the Digital Economy's Future

Wenzhou Digital Security Port: Exploring New Paths for Data Element Market Allocation and Empowering the Digital Economy's FutureAt the 2024 China International Big Data Industry Expo (Big Data Expo), China (Wenzhou) Digital Security Port, together with Wenzhou Data Trading Center, Zhejiang Provincial Big Data Joint Computing Center, Meihua Interactive, East longitude Technology, Lianren Health, and Wenzhou Data Group, six ecological enterprises, made a grand appearance at the professional exhibition. With the theme of "Digital Symbiosis," they showcased new products and technologies related to data element construction and development, vividly depicting a picture of data co-existence

Wenzhou Digital Security Port: Exploring New Paths for Data Element Market Allocation and Empowering the Digital Economy's Future

At the 2024 China International Big Data Industry Expo (Big Data Expo), China (Wenzhou) Digital Security Port, together with Wenzhou Data Trading Center, Zhejiang Provincial Big Data Joint Computing Center, Meihua Interactive, East longitude Technology, Lianren Health, and Wenzhou Data Group, six ecological enterprises, made a grand appearance at the professional exhibition. With the theme of "Digital Symbiosis," they showcased new products and technologies related to data element construction and development, vividly depicting a picture of data co-existence.

Breaking Through the Sharing Barriers of Data Element Industry: The Innovative Exploration of Digital Security Port

Against the backdrop of accelerating digital China construction, China's data element market has ushered in unprecedented development opportunities. This Big Data Expo aims to leverage the power of data and advance its application. As a high-end exchange platform focusing on the latest achievements of the big data industry and delving into the vast prospects of data application, it showcases and witnesses how data elements can fully unleash their innovative potential and drive social and economic development.

A relevant person in charge of the Wenzhou Ouhai District Digital Security Port Management Service Center stated that, at this stage, the Digital Security Port has initially formed a complete data industrialization chain. Compared to data trading centers in other regions, its scope of business goes beyond data product trading, encompassing data collection, scenario planning, product processing, compliance assessment, property rights registration, and product trading, among other aspects. It conducts in-depth explorations in multiple dimensions and pathways to promote the prosperous development of the data element market.

Located in Ouhai Economic Development Zone, the Digital Security Port is a core industrial platform for Wenzhou to explore and develop new fields and tracks. It covers a total planned area of 4.42 square kilometers with a construction area of 1.57 million square meters. Since its establishment, the Digital Security Port has been dedicated to becoming a demonstration park for the national data element comprehensive pilot zone. It has created a unique government-led compliance certification system nationwide, establishing a comprehensive judicial guarantee system of "one court, one institute, one room, one team, one center" and a secure and credible technological guarantee system. In just over two years, the Digital Security Port has attracted 393 digital enterprises.

At this Big Data Expo, the Digital Security Port comprehensively showcased a series of innovative explorations addressing the core pain points of data industry, such as "not daring to share," "not knowing how to share," and "not wanting to share":

• Institutional Innovation: The Digital Security Port has successfully established a leading national data security compliance system and a "five-in-one" data judicial guarantee system led by the government. With 22 compliance regulations serving as guidelines and bottom-line constraints for data security initiatives, it has broken through the barrier of "not daring to share" data.

• Platform Development: The Digital Security Port has constructed a new data infrastructure technology guarantee system encompassing data vault, joint computing platform, secure and credible data space, and public data authorized operation domain. It provides abundant application scenarios, trial and error opportunities, and optimization space for data interaction, fusion, and iteration, overcoming the challenge of "not knowing how to share."

• Process Optimization: The Digital Security Port has established a complete chain of data element value creation processes, covering data resource integration from multiple sources, scenario application planning, data product development, security and compliance verification, data intellectual property registration, data asset valuation and entry into accounts, and data product circulation and trading. This provides strong support for product and service optimization by the market and social entities, enabling practitioners to fully enjoy the "data dividend" and resolving the issue of "not wanting to share."

Forging Resilience in the Digital Economy with Data Enterprises: The Ecological Collaboration of Digital Security Port

In the process of promoting the market allocation of data elements, data merchants play a crucial role in enriching and perfecting data infrastructure, promoting data infrastructure construction, and facilitating data circulation and utilization. At this Big Data Expo, the ecological enterprises of Digital Security Port showcased the technical support and practical explorations they provide in building the data element market:

• Wenzhou Data Trading Center: Leveraging the Digital Security Port, it establishes a top-tier national data trading platform with Wenzhou characteristics, encompassing six major functions: public data trading, government-enterprise data procurement, and data merchant product trading.

• Zhejiang Provincial Big Data Joint Computing Center: Serving as the technological foundation for data circulation, the platform acts as data circulation infrastructure. Under the premise of legal compliance, it realizes "data usable but not owned, secure, visible, and verifiable, results controllable and quantifiable," ensuring the efficient circulation of data value.

• Meihua Interactive Holdings: Upgrading industries with data intelligence services, integrating data and industry experience to provide intelligent solutions for areas such as the internet, brand marketing, and financial risk control.

• East longitude Technology: Leading the "packaging + internet" model, it provides digital solutions for the packaging industry, helping small and medium-sized enterprises reduce costs and increase efficiency.

• Lianren Health Medical Big Data Company: Focusing on medical big data and informatization, it promotes the construction of a medical health data industry ecosystem, empowering the transformation of "three medical connections."

• Wenzhou Data Group: As a state-owned backbone enterprise in Wenzhou, it is responsible for data infrastructure construction, element mining, security protection, and industrial layout, coordinating the data market and industrial investment to support the high-quality development of Wenzhou's data industry.

To fully unlock the value of data, the Digital Security Port joins hands with ecological enterprises to carefully refine the value of data resources, build a comprehensive and authoritative evaluation system, and complement it with technological processing. It converts source data into data components, laying the foundation for value assessment and circulation trading. Through in-depth processing and scenario planning, data components are further shaped into data products with market value.

The Achievements and Prospects of Digital Security Port: Ushering in a New Era of Data Economy

To date, the Digital Security Port has actively connected with 23 data trading centers nationwide, including Guiyang Data Exchange and Shenzhen Data Exchange, forming a nationwide data product trading alliance, enabling data products to be widely listed on major data trading platforms nationwide. Additionally, relying on the "separation of three rights" mechanism, namely the separation of data resource ownership, processing rights, and operation rights, the Digital Security Port conducts accurate assessments of data products and adheres to the principle of "one product, one price." It has successfully promoted the inclusion of data products in corporate financial statements, with "Credit Data Treasure" becoming the first instance nationwide of data asset entry into accounts.

According to the "14th Five-Year Plan for Big Data Industry Development" issued by the Ministry of Industry and Information Technology, by 2025, China's big data industry is estimated to exceed one trillion yuan in scale, with an average annual compound growth rate of around 25%. China possesses immense potential in unlocking the value of data elements.

A relevant person in charge of the Digital Security Port believes that, in the future, the government and data enterprises should work together to discover the value of data elements within a safe framework and promote rapid development, laying the foundation for building a more inclusive, resilient, and sustainable digital economy world.

The Big Data Expo has brought together top companies from the global big data field. Its strong enterprise aggregation effect also demonstrates the attractiveness of the digital economy, providing unprecedented impetus for the booming development of the data element market.

A relevant person in charge of the Digital Security Port expressed their expectations for the future development of the big data industry at their first participation in the Big Data Expo: "Through this international event, we hope that more industries and enterprises can learn about and understand the Digital Security Port through the Expo, spreading our 'Wenzhou' exploration experience to all participants in the data industry. With the continuous development of the digital economy, we will also work together with ecological partners in the data industry to jointly promote the development of massive data, this 'mineral resource,' into 'treasures' that drive industry advancement. Together, we will improve resource utilization efficiency, accelerate industrial transformation and upgrading, and jointly create a mutually beneficial and win-win data-driven era, forging a new future where the digital economy empowers the real economy."

Summary

With its forward-looking layout, innovative explorations, and efficient operation, Wenzhou Digital Security Port has achieved remarkable results in the field of data element market allocation, contributing valuable practical experience to the development of the digital economy. In the future, the Digital Security Port will continue to leverage its strengths and work with ecological enterprises to jointly promote the release of data element value, contributing to the construction of a more inclusive, resilient, and sustainable digital economy world.

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