On November 20, the Internet Information Office released the “Global Data Cross-border Flow Cooperation Initiative”, recommending that governments encourage electronic transmission of data across borders, support the free flow of legal data across borders, and actively carry out international cooperation in the field of cross-border data flow.

On the same day, the Ministry of Foreign Affairs officially stated that China is willing to develop and deepen exchanges and cooperation with all parties in the field of cross-border data flows on the basis of the “Initiative”, and all parties are welcome to support this “Initiative”.

The initiative is expected to radiate the data element industry to the world. While the domestic data element industry is rapidly improving, it will promote the establishment of an open and win-win international cooperation pattern for cross-border data flows, and is expected to advance construction first in terms of safety governance, cross-border circulation, technological innovation, and open cooperation.

Market rumor has it that China has established WDO (World Data Alliance). Comparable to the WTO, WDO is a worldwide data exchange and circulation organization. Just like the WTO was founded at the beginning, establish an organization for data circulation and openness: WDO (Global Data Organization) countries and agencies can use this organization to negotiate standards for future data and information use, and promote division of labor and cooperation among countries.

Institutions are most optimistic about the two aspects of data infrastructure and authorized operation of public data. The former is the material foundation, which is the first to start and scale, while the latter is implemented in practice, has a good business model, and there is plenty of room for imagination.

Changjiang Securities published a research report saying that the specific rules of the national integrated data market are expected to be gradually improved in the near future. Earlier, the National Data Administration indicated that it will successively introduce relevant policies such as data property rights, data circulation, and revenue distribution this year. As relevant policies are introduced one after another, it may push the construction of the data market into a new stage.

Hong Kong stocks related to the data elements include:

Wanguo Data-SW (09698): While speeding up the construction and operation of overseas data centers, the company actively signs contracts with overseas power companies to ensure stable electricity supply. Furthermore, the company is deepening cooperation with overseas technology companies to explore fuel cell power solutions. After 2016, the company further expanded the coverage of data centers in domestic core cities, including the Beijing-Tianjin-Hebei region, Yangtze River Delta region, central China region, Guangdong-Hong Kong-Macao Greater Bay Area, Inner Mongolia region, and southwest China region. Since 2021, the company began to lay out Southeast Asian markets such as Singapore, Malaysia, and Indonesia, and gradually formed a Singapore-Johor-Batam regional strategy. In 2024, the company will be located in Fuchu-shi, Japan to enter the Northeast Asian data center market.

Fubo Group (03738): While mastering core patented technologies such as digital fingerprinting and watermarking for film and television genes, Fubo conforms to the development trends of Web3.0 and AI, and actively explores application opportunities for digital content authorization, digital content asset protection, and trading in new scenarios.