Hello! I'm your financial analyst friend. Today, we're going to talk about a seemingly complex topic that's actually closely related to every business: data assets.
Recently, the government has issued two new national standards (GB/T 47949-2026 and GB/T 47950-2026) that specifically address how to register and account for data. Many people, upon hearing the term "data assets," immediately think, "Is this just another concept being hyped? Can my data be sold for money?"
Don't worry. Let's put aside the complicated legal and accounting jargon and break this down in simple terms. The core idea of these standards can be summed up in one sentence: Data used to be like "air"; now the government wants to turn it into "fixed assets," but the process is difficult, and not everyone can immediately monetize it.
Below, I'll break down the logic and opportunities behind this from five different perspectives.
---
1. The Core Issue: Why Can't Data Be Owned Like Property?
To understand these new standards, we need to recognize the biggest difference between data and other assets.
Imagine you have a piece of land on which you build a factory. That land is clearly owned by you, and no one else can build on it at the same time. This is physical ownership. Land, machinery, and even your labor (which can only be used by one company at a time) are all examples of assets whose ownership is determined by physical possession.
But data is different. If I have a copy of user consumption data and give it to you, both of us still have the original copy. It's impossible to determine which one is the "original" and which is the "copy" because data can be replicated indefinitely without any loss of quality. Therefore, the concept of ownership doesn't apply to data.
Since ownership can't be established through physical possession, it must be established through official regulations. Just like with a house, you can't claim ownership just by holding the property certificate; you need to go to the real estate registry for official recognition.
These two new standards (Classification and Coding, Registration Guidelines) are designed to integrate data into existing asset management systems. They:
- Classify data (e.g., structured tables or unstructured videos) so it can be recorded as an intangible asset on the company's financial books.
- Specify how to register data (initially, when it's acquired, when it changes, or when it's no longer useful). The data must be recorded not only in the asset ledger but also in the accounting books, with clear responsibilities assigned to specific individuals.
In short, these standards provide the necessary framework for recognizing data as an asset, which is essential for financial and legal purposes.
---
2. The Reality Check: Why Are Only 136 of More Than 5,000 Listed Companies Doing This?
If the government is promoting this, why are most companies still hesitant? Even a large company like CITIC Bank only recorded data assets worth 5.79 million yuan in 2024? This might seem modest.
There's a common misconception: many think that recording data is just to make financial statements look better. However, the difficulty lies in pricing data. The first four factors of production (land, labor, capital, technology) have established market prices, but data doesn't. The value of data depends entirely on who uses it and for what purpose.
This creates a problem: without a unified market price, it's impossible to assess data assets on a large scale. Each asset must be evaluated individually for specific buyers and use cases, which is time-consuming and costly.
According to the Shanghai Advanced Finance Institute, as of April 2026, only 136 of the more than 5,000 A-share listed companies had disclosed their data assets, totaling 3.786 billion yuan—less than 3% of their total assets. This indicates that data assetization is still in its pilot phase and far from being a lucrative opportunity.
---
3. The Harsh Truth: The Day Data Is Recorded, Depreciation Begins
Many bosses think that recording data will increase their company's value. But in accounting, data assets are classified as intangible assets with a typical lifespan of three years. This is because data changes quickly, and its value fades over time. For example, user behavior from three years ago might be outdated for today's marketing strategies. Once data is recorded, depreciation starts, reducing its value over time.
Let's look at some examples:
- CITIC Bank recorded data assets worth 5.79 million yuan in 2024, which increased to 19.02 million yuan in 2025, but the accumulated depreciation also rose from 0.85 million yuan to 3.62 million yuan.
- Ningbo Bank's data assets remained unchanged in value, but the book value decreased from 6 million yuan to 4 million yuan due to depreciation.
This shows that recording data is not about immediate benefits; it's about continuous investment in fresh, useful data. Failing to update data regularly will result in its value disappearing over time.
---
4. Is This Another Hype?
You might wonder if this is just another marketing gimmick. My opinion is that it's more of a long-term trend rather than a short-term hype. To tell if a policy is a "hot trend" or part of a sustainable initiative, look at how it evolves over time. Policies for the "metaverse" or "carbon neutrality" showed a rapid initial push followed by slower progress. Data assetization, on the other hand, has had a steady development:
- December 2022: The "Data Twenty Articles" recognized data as the fifth production factor.
- January 2024: The "Interim Provisions on Accounting Treatment of Corporate Data Resources" were implemented to clarify how to record data.
- September 2026: The two national standards were introduced to specify the classification and registration processes.
These standards are recommended rather than mandatory, indicating that the government is working towards a sustainable system. Although they're not mandatory, they will influence accounting practices and audits.
---
5. What to Do Next
If your company is considering data assetization, ask yourself these three questions:
1. **Who Should Act Now?**
- Companies with upcoming financings, mergers, or IPOs: Data compliance and clarity are crucial for valuation and audits. Time is more valuable than money, so action is needed.
- Leading companies in the industry: If competitors are already recording data, it indicates that the industry is ready for this. Following suit is a competitive advantage.
- Companies whose data can be monetized: If your data is useful outside your business (e.g., for insurance companies), there's potential for transactions.
If you answer "yes" to two of these questions, it's time to start planning.
2. **Who Can Wait?**
- Companies unsure of their data assets: If you can't even estimate the amount or quality of your data, recording it would be unnecessary.
- Companies Using Data Only Internally: If data is only for internal processes, recording it may not be meaningful.
3. **The Right Order of Action:**
- First, prepare your system: Ensure your asset management system has the necessary structure for data.
- Second, assign responsibilities: Clearly define who is responsible for data registration and management.
- Third, calculate the impact: Assess the financial impact of data assets over a three-year period.
Remember, data assetization involves multiple fields (data governance, legal compliance, financial accounting, and asset valuation). Many companies lack the necessary expertise, so seeking external support from law firms, accounting firms, or data assessment companies is essential.
In summary, the difficulty of data assetization lies in establishing ownership, pricing, and accounting for something that can be replicated indefinitely. These standards are a solid foundation for a sustainable system. Don't rush to decide whether it's relevant to your company; first, assess your data and its potential value. Acting early, even if it seems costly, can help you prepare for the long term.