January 11, 2024， the Ministry of Finance, PRC issued guidance to strengthen data asset management in their official website. This guidance clarifies the asset attributes of data. It proposes to promote data assetization in accordance with the law and regulations, equally protect the legitimate rights and interests of various entities' data assets, encourage public service institutions to incorporate public data resources with asset attributes that are legally or compliantly held or controlled into the scope of asset management. The guidance also encourages to further innovate data asset management methods, to strengthen the full process management of data assets and strictly prevent risks of data asset application, and to better promote high-quality development of the digital economy.

The guidance mainly includes 18 articles in three aspects: overall requirements, main tasks, and implementation guarantees.

The guidance clearly defines the the working principles, which are adher to the combination of ensuring security and compliant utilization, the combination of rights distribution and value empowerment, the combination of classification and equal protection, the combination of classficiation and equal protection, the combination of an effective market and proactive government, and the comibination of innovative approaches and pilot initiatives.

The guiding opinions outline the key tasks, including the following:

1. Manage data assets in accordance with laws and regulations.

2. Clarify the rights and responsibilities of data asset ownership.

3. Improve relevant standards for data assets.

4. Strengthen the management of data asset usage.

5. Promote the development and utilization of data assets in a prudent manner.

6. Establish a comprehensive value assessment system for data assets.

7. Establish a mechanism for the distribution of data asset benefits.

8. Regulate the disposal of data assets.

9. Enhance monitoring of the data asset process.

10. Strengthen emergency management of data assets.

11. Improve information disclosure and reporting of data assets.

12. Prevent risks associated with the application of data asset value.

The website also published a statement by the person in charge of the Asset Management Department of the Ministry of Finance regarding the issuance of the "Guiding Opinions on Strengthening Data Asset Management" and answering questions from journalists. The official pointed out that the current challenges faced by data assets include a clear lack of high-quality supply, an unclear path for compliant use, and insufficient value enhancement through applications. It is imperative to further improve the institutional system and guide and regulate data asset management through the introduction of guiding documents. The development of the "Guiding Opinions" is not only an objective need to promote the development of the digital economy but also a practical requirement to strengthen data asset management.