The Basic Framework,Operating Model and Implementation Path of Data Finance
China has massive data resources which are showing a rapid growth trend and provide a good foundation for building data finance.Data finance is a fiscal system in which the government obtains revenue through public data operation and data taxation and utilizes it to drive economic and social development and achieve the equitable sharing of digital dividends.Building data finance can better meet the needs of economic and social development,fiscal balance,data development and utilization,and income distribution adjustment in the digital economy era.Data finance consists of two parts:revenue and expenditure.The revenue side includes public data operations and data taxes.Among them,public data operation revenue mainly includes profit transfers from state-owned enterprises,data usage fees and revenue sharing.The alternative set of data taxes mainly includes data value-added tax,data transaction tax,data asset tax,data service tax,and data cross-border service tax.Expenditures from data finance are used to maintain data finance operations,build digital infrastructure,enrich social security funds and other fiscal expenditures.Calculations have found that the potential revenue scale of national data finance is expected to reach 1.27 trillion yuan by 2025,accounting for 5.49%of the current national general public budget revenue.By 2035,it will reach 8.06 trillion yuan,accounting for 22.85%of the current national general public budget revenue.It is expected to take over from land finance and become an important pillar supporting the healthy development of the fiscal system.The construction of data finance should be gradually promoted.Public data operations can be carried out first,and then data tax collection can be carried out.However,the allocation of data rights between different levels and within the same level of government must be considered.
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