Zhang Huixing, Deputy Director of the Data Resources Department of the National Data Administration, revealed at the 2024 Global Digital Economy Conference - High Level Forum on Data Elements that she is accelerating the research and formulation of policy documents for the development and utilization of data resources, and implementing policies based on the different attributes and characteristics of public data, enterprise data, and personal data. Some policies will be introduced soon. In fact, the development and utilization of public data, as a key part of exploring new models of data empowerment, has always been a top priority in the construction of the data element market, and related policy measures have been successively introduced. In December 2022, the "Opinions of the Central Committee of the Communist Party of China and the State Council on Building a Data Infrastructure System to Better Play the Role of Data Elements" (referred to as the "Twenty Articles of Data") were released. Subsequently, multiple relevant policy documents were issued, and various regions continued to explore in practice, launching many innovative measures around the development and utilization of public data. Zhu Min, a senior expert at the China International Economic Exchange Center and former Vice President of the International Monetary Fund, stated in an interview with Securities Daily that public data is an asset with economic, social, and management value. In the process of data assetization and capitalization, the development, utilization, and assetization of public data are the first and most crucial steps to make data assets move. The basic institutional system has become increasingly stable. In recent years, with the wave of the digital economy sweeping through, data has become a new type of production factor and social wealth. Especially public data that concerns the interests of the majority has become a testing ground for practical exploration. The so-called public data refers to the data collected, generated, processed, and held by government agencies or other public departments in the process of fulfilling their responsibilities, including government affairs, socio-economic, environmental resources, infrastructure, public safety, and other data. Chen Xiaohua, Director of the Blockchain and Data Elements Professional Committee of the China Mobile Communications Federation, told Securities Daily that developing and utilizing public data is beneficial for making data assets "live". Firstly, it helps to enhance governance capabilities by optimizing government decision-making and services through precise data analysis. Secondly, provide market insights and decision support for enterprises to assist in the development of the real economy. Finally, the rational use of public data helps to better allocate resources and improve the quality of public services. In the view of relevant staff members of the National Development and Reform Commission, the development and utilization of public data, such as trial and error in public data trading, is conducive to enhancing market confidence. At the same time, by prioritizing the flow of public data, it is beneficial to guide market data and other transactions to gradually achieve standardized management of the data trading market. The development and utilization of public data has always been a top priority in the construction of China's data element market. From the central to local levels, relevant policies and guidance have been successively issued to promote the development and utilization of public data. For example, at the national level, the "Twenty Data Articles" issued in December 2022 proposed to promote the implementation of a public data rights confirmation and authorization mechanism. From a local perspective, Beijing has issued the "Opinions on Promoting the Construction of Beijing Financial Public Data Zone" and established a financial public data zone; Shanghai has introduced the Shanghai Data Regulations, which provide a special chapter to regulate the system for authorized operation of public data; Guangdong Province has released the "Guangdong Province Public Data Management Measures" and "Guangdong Province Economic Promotion Regulations" to establish a sound institutional regulatory system... This time, the public data development and utilization policy led by the National Data Bureau will further strengthen the "four beams and eight pillars" of the basic institutional system for public data development and utilization. According to Zhang Comexing, in terms of public data, institutional arrangements have been made for government data sharing, public data openness, and authorized operation according to different purposes such as government governance, public services, industry development, and enterprise operation. The focus is to encourage and explore authorized operation of public data, and regulate the conduct of data operation activities. The development and utilization of public data still need to be explored. Currently, with the guidance of a series of policy measures and active exploration and practice in various regions, the open utilization mode of public data in China is becoming increasingly clear, mainly including five categories: government self-developed mode, government purchased service mode, public data open mode, public data authorized operation mode, and public data transaction mode. In Zhu Min's view, the ideas and practices for conducting public data authorization operations in various regions have their own characteristics. Taking Shanghai as an example, significant achievements have been made in both policy and practice in the field of public data management. Through platform construction, data operation, and industrial cultivation, the integration and development of public data, industry data, and social data can be accelerated. There is a lot of room for exploration and imagination. However, it should be noted that there are still some issues in the development and utilization of public data. Chen Xiaohua told reporters that there are problems in the development and utilization of public data, such as insufficient data quality and standardization, privacy and security risks, incomplete laws and regulations, and difficulties in evaluating the value of data. In addition, issues such as data ownership arrangements and the economy of data openness and authorized use still need to be resolved. The development and utilization of public data is a systematic project that requires continuous exploration and improvement in practice. Faced with challenges, various regions need to rely on their own advantages and have the courage to innovate and break through. Hong Yong, a think tank expert at the China Digital Real Integration 50 Person Forum, told Securities Daily reporters that firstly, it is necessary to establish a sound management system and legal framework for public data, clarify the ownership of data rights, and formulate relevant standards for data security and personal privacy protection. Secondly, it is necessary to strengthen the construction of data infrastructure, promote standardization and interconnectivity of data, break down data silos, and promote efficient data circulation. Once again, cultivate and develop a market for data elements, introduce third-party data service institutions, provide data cleaning, annotation, analysis and other services, and enhance the availability and value of data. Finally, encourage innovation and pilot projects, explore new models for the integration and utilization of public and private data, and ensure the maximization of public interests while promoting data assetization. (Lai Xin She)