Yicai:

The NDA recently announced that this year it will successively release policy documents on data property rights, data circulation, revenue distribution and security governance, increasing policy provision. Could you please introduce the work objectives and specific arrangements? Thank you.

Liu Liehong:

I'd like to invite Ms. Luan to answer your questions.

Luan Jie:

Thank you for your question and for your attention to basic data systems. The construction of basic data systems is an important measure for further deepening comprehensive reforms and is a long-term, complex and systematic project. The third plenary session of the 20th Central Committee of the Communist Party of China explicitly called for accelerating the establishment of systems for data property rights attribution, market transactions, proceeds distribution and interests protection, enhancing data security governance and regulatory capabilities, and creating an efficient, convenient and secure mechanism for cross-border data flows. Since the establishment of the NDA, we have prioritized advancing the construction of basic data systems. We are expediting the drafting of policy documents related to data property rights, circulation and transactions, proceeds distribution and security governance. Our goal is to establish and improve basic data systems that create favorable conditions for "data to be available, to flow smoothly, to be used effectively and to be securely protected," continuously enhancing the systemic, holistic and coordinated nature of the market-oriented allocation reform of data elements.

First, we focus on addressing practical challenges by providing specific, clear and actionable rules and guidelines. In response to societal expectations for data property rights attribution, we are widely soliciting issues and difficulties in the field of data property rights from across the country. We conduct in-depth research, seek advice at the grassroots level and refine the rights of data ownership, usage and management to provide institutional guarantees for data supply, circulation and utilization. We emphasize studying specific countermeasures individually, aiming to provide concrete, clear and operationally effective property rights allocation solutions to help all parties confirm their respective rights.

Second, we are committed to promoting circulation and usage to support the cultivation of new quality productive forces and foster high-quality development. Currently, there is a widespread belief that the data element market is still in the phase of "expanding the market," with improvements needed in the scale, efficiency and rules of data circulation and transactions. To cultivate a unified national data market, efforts should focus on building a data circulation and transaction system and setting developmental goals for data circulation and transactions. Regarding the construction of the proceeds distribution system, we place greater emphasis on building incentive mechanisms, utilizing price formation mechanisms and fully mobilizing the enthusiasm, initiative and creativity of all parties involved.

Third, we focus on strengthening pilot explorations to ensure that policies and systems are both derived from practice and effectively guide practice. The data field is evolving rapidly with swift innovation, with policies and systems often lagging behind practical development. Therefore, we will make concise deployments for areas where the path is clear and use pilot programs to explore and advance areas where consensus has not yet been reached. Based on the results of pilot explorations and industry practices, we aim to develop institutions.

In addition, we uphold the security bottom line to resolutely safeguard national security and protect both personal information and business secrets. We aim to better coordinate development and security, explore new security governance mechanisms and integrate security throughout the entire process of data supply, circulation and utilization.

Currently, various documents are being refined promptly. Moving forward, we will implement the tasks and deployments outlined by the third plenary session regarding the construction of basic data systems. Following the principle of finalizing and releasing each document as it is ready, we will advance the issuance of these documents to provide institutional guarantees for unleashing the potential of data elements as well as supporting high-quality economic and social development.

That's all for my response. Thank you.