Recently, the National Natural Science Foundation of China announced the review results for the 2024 Macro-control Special Projects on Data Market System Design and Key Technologies. The project led by Professor Jiang Wu, titled Research on Functional Positioning, Operational Mechanisms, and Governance Mechanisms of Data Trading Venues, was approved for funding. This marks the first time our school has received support from a key special project under the National Natural Science Fund.

In line with the evolving digital economy and its deepening development, the economic status of data has been increasingly prominent, gradually becoming a strategic focal point in international competition. The Fourth Plenary Session of the 19th CPC Central Committee first listed "data" alongside traditional production factors such as land, labor, capital, and technology. As a new type of production factor, the unique attributes of data dictate that its value realization must rely on standardized and efficient market mechanisms. The Party Central Committee and the State Council have attached great importance to the valorization of data elements, successively issuing relevant policy documents. These policies focus on reforming the allocation of data elements through market mechanisms and emphasize the construction of an integrated national data market.

In this context, the project aims to build a unified national system of data trading venues. This system seeks to achieve interconnectivity among data trading venues at different levels, regions, and industries, thereby enhancing operational efficiency and governance standards in data trading. The research objectives of the project include:

• Establishing a framework for an integrated data market ecosystem.

• Discussing mechanisms for the interconnectivity of data trading venues.

• Developing operational models for data trading platforms from the perspective of multi-agent dynamic games.

• Optimizing transaction costs and supply-demand matching for data trading institutions.

• Creating governance systems and mechanisms for data trading platforms that are adaptable to various models.

Achieving these goals will provide theoretical guidance for the market-oriented allocation of data elements, serving the comprehensive and healthy development of the national digital economy.