Social Sciences in China (Chinese Edition)

No. 2, 2024

 

The Dual Symbiosis of Interests/Rights: Creating the Value of “Data Element X”

(Abstract)

 

Huang Yinxu and Yang Dong

 

As new productive forces, data elements are the new drivers of digital economy development. The digital economy differs from the industrial economy, which was mainly based on property rights transactions. The formation of effective incentives and distribution mechanisms is the fundamental guarantee for the creation of the value of “data element X.” The rights paradigm promoted the progress of industrial society, but the non-exclusivity and other characteristics of data elements in the digital economy era urgently call for the construction of an interests paradigm for substantive distribution. On the basis of China’s original data theory, “Coken,” we can create a new model of interests/rights involving the dual symbiosis of data elements; realize the transformation from fair price formation to data value creation; and establish an incentive and distribution mechanism for multi-party subjects to participate in the circulation of data elements, thus ultimately promoting common prosperity.