The Development Status, Challenges and Countermeasures for China Financial Industry Data Factor Market

DOI: https://doi.org/10.62517/jbdc.202301214

Author(s)

Xuqi Zhu1, Jing Lin2

Affiliation(s)

1Guangzhou College of Commerce, Guangzhou, Guangdong, China 2Yibo Intelligent Technology (Guangzhou) Co., Ltd., Guangzhou, Guangdong, China

Abstract

With the rapid development of new technologies such as big data, cloud computing, and artificial intelligence, data has gradually become a basic strategic resource and a revolutionary key element in the digital era. Data is a core element in conducting financial business and plays a fundamental role in the fields of marketing and risk control. Data factors have become the most important production factors for financial technology innovation activities, and the application of financial data factors has become the basis for the development of financial technology. This article elaborates on the current development status of China's financial industry data factor market, the significance and necessity of building a financial industry data factor market, and deeply discusses the current low-quality supply of China's financial industry data factor market, weak data security governance, insufficient sharing and circulation mechanisms, Challenges such as difficulty in releasing value from applications. Corresponding countermeasures are proposed from aspects such as strengthening the supply of high-quality data factors, creating a market environment that facilitates the circulation of data factors, promoting the expansion and opening of the public market for data factors, and building a security governance system for the data factor market.

Keywords

Data Factors; Data Circulation; Data Security; Financial Data

References

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