News & Insights

In June 2026, the National Data Administration issued the Implementation Plan for Advancing the Construction of High-Quality Industry Datasets (Guo Shu Ke Ji [2026] No. 25), aiming to build application-validated high-quality datasets covering key fields by the end of 2028. The plan sets out six special actions — foundation expansion, annotation, quality improvement, application empowerment, management services, and value release. The value release action explicitly explores commercialization and capitalization models for high-quality datasets, opening new scenarios for turning data resources into data assets.

In May 2026, the National Data Administration issued its 2026 Digital Economy Development Work Priorities, covering eight areas: market-based allocation of data elements, digital infrastructure, data empowerment for AI, digital industry competitiveness, integration with the real economy, digital governance, international cooperation, and the development environment. On data elements, the priorities call for accelerating a unified national data property rights registration system and pricing mechanisms for authorized operation of public data — giving clearer institutional expectations for data asset rights confirmation, circulation, and financing.

In December 2025, the State Administration for Market Regulation approved four asset management national standards, including Asset Management — Guidelines for Cultural Digital Asset Trading (GB/T 46842-2025) and Asset Management — Guidance for Cultural Digital Asset Valuation (GB/T 46843-2025). The trading guidelines cover trading parties, trading objects, trading processes, and quality assurance and improvement; the valuation guidance covers valuation objects, influencing factors, and methods. Together they provide a unified operational basis for the orderly development of cultural digital assets such as digital collectibles.

In November 2025, the unified movable property financing registration and publicity system operated by the People's Bank of China Credit Reference Center officially added data asset pledges to its registration examples. Data asset pledges fall under "other movable property and rights security", and parties may register them through the unified system to strengthen public notice of their rights. Local pilots were already underway. According to media reports, Xiamen completed 161 data asset (property rights) registrations in 2025, enabling RMB 220 million in data asset pledge financing. A unified registration channel helps lower risk-control costs for financial institutions and moves data asset pledge financing from individual pilots toward large-scale adoption.

In July 2025, the National Data Administration announced its 2025 list of trusted data space innovation pilots. A total of 63 projects were selected: 13 city trusted data spaces, 22 industry trusted data spaces, and 28 enterprise trusted data spaces. The city pilots cover 13 cities including Shanghai, Chongqing, Xiong'an New Area, Nanjing, Guangzhou, and Chengdu. The pilots implement the Trusted Data Space Development Action Plan (2024-2028) and aim to explore pathways for trusted data circulation and value creation, building practical experience for a unified national data market.

A year after the interim accounting provisions for enterprise data resources took effect, balance sheet inclusion of data assets has moved from early exploration by a few companies to common practice across market participants. State-owned enterprises, listed companies, and private firms are all inventorying data resources, confirming rights, and recording data assets. Building on inclusion, demand for data asset pledge financing, data product trading, and independent data asset operations is growing rapidly, as the data asset services industry moves from awareness-building into large-scale application.

In December 2024, the National Development and Reform Commission, National Data Administration, Ministry of Education, Ministry of Finance, National Financial Regulatory Administration, and China Securities Regulatory Commission jointly issued the Guiding Opinions on Promoting High-Quality Development of the Data Industry (Fa Gai Shu Ju [2024] No. 1836). The Opinions target a compound annual growth rate above 15% for the data industry by 2029, a markedly optimized industry structure, and world-leading data technology innovation. Key tasks cover industry structure, diverse market players, technology innovation, data resource development, cross-border data flow, and infrastructure, backed by funding, innovative financial products, and talent development.

In November 2024, the National Data Administration issued the Trusted Data Space Development Action Plan (2024-2028) (Guo Shu Zi Yuan [2024] No. 119). A trusted data space is data circulation infrastructure that connects multiple parties under shared rules to enable the sharing and use of data resources. The plan targets more than 100 trusted data spaces by 2028 and sets out three major actions — capability building, cultivation and promotion, and foundation strengthening — with a focus on enterprise, industry, city, personal, and cross-border trusted data spaces.

In October 2024, the General Office of the CPC Central Committee and the General Office of the State Council released the Opinions on Accelerating the Development and Utilization of Public Data Resources (issued September 21, 2024). The Opinions address expanding the supply of public data resources, regulating authorized operation of public data, encouraging application innovation, and creating a sound environment for development and use. They provide top-level institutional design for opening and sharing public data and create room for enterprises to participate in public data development.

Balance sheet inclusion and financing of data assets are being put into practice nationwide, with use cases extending from the early finance and internet sectors to transportation, healthcare, water, energy, and other utilities and real-economy industries. More enterprises are systematically inventorying their data resources and building data asset management systems, driving strong growth in demand for professional services such as data compliance assessment, valuation, and inclusion advisory.

GMDI successfully helped enterprises across water utilities, transportation, and technology sectors complete data asset balance sheet inclusion, with multiple data products listed on exchanges for valuation and trading.

The Ministry of Finance issued the Guiding Opinions on Strengthening Data Asset Management (Cai Zi [2023] No. 141) on December 31, 2023, and made them public in January 2024. The Guiding Opinions set out systematic requirements covering data asset rights, use, development, valuation, revenue distribution, disclosure, and security. They aim to build a data asset governance model that is market-led, government-guided, and jointly built by multiple parties, providing an institutional basis for enterprises and public institutions to manage data assets and unlock their value.

In January 2024, the National Data Administration, together with the Cyberspace Administration of China and 15 other departments, issued the "Data Element ×" Three-Year Action Plan (2024-2026) (Guo Shu Zheng Ce [2023] No. 11). The plan focuses on high-level application of data elements. By the end of 2026 it targets more than 300 highly visible, high-impact demonstration scenarios, annual data industry growth above 20%, and a doubling of data transaction volume, with priority on 12 industries and fields including industrial manufacturing, modern agriculture, commerce and logistics, transportation, and financial services.

The Interim Provisions on Accounting Treatment of Enterprise Data Resources, issued by the Ministry of Finance in August 2023, took effect on January 1, 2024. The provisions clarify which accounting standards apply to enterprise data resources and set out initial measurement, subsequent measurement, presentation, and disclosure for data resources recognized as intangible assets or inventory. They provide operational guidance for putting data assets on the balance sheet and mark a milestone in the capitalization of data resources.

In May 2022, the General Office of the CPC Central Committee and the General Office of the State Council issued the Opinions on Promoting the Implementation of the National Cultural Digitalization Strategy. The Opinions aim to largely complete cultural digitalization infrastructure and service platforms by the end of the 14th Five-Year Plan period, and to build a national cultural big data system by 2035. Among eight key tasks, the Opinions call for developing new digital cultural consumption scenarios and accelerating the digital transformation of the cultural industry — a policy direction for the healthy development of digital cultural products and digital collectibles.

On April 13, 2022, the National Internet Finance Association of China, the China Banking Association, and the Securities Association of China jointly issued an Initiative on Preventing NFT-Related Financial Risks. The initiative recognized the potential of NFTs, as a blockchain innovation, to enrich digital economy models and support the cultural and creative industries, while calling for firmly curbing their financialization and securitization and strictly guarding against illegal financial activity. It set compliance boundaries for China's digital collectibles industry and steered it back toward cultural and consumer value.