Haixinyu Urban Renewal Group completed the registration of two datasets — the energy consumption dataset and the parking coordination dataset — at the Beijing International Data Exchange recently. The company also completed the entry of data assets, marking the inaugural entry of data assets in Haidian district and the introduction of green data assets in Beijing.

"Data entry" refers to the process of recognizing data as an asset on a company's balance sheet, thereby accurately reflecting its true value and business contribution on financial statements. 

The two datasets entered this time have added a total of 1.01 million yuan (US$139,783) in data assets to Haixinyu. An evaluation agency has assessed the combined value of the two datasets at 22.88 million yuan. 

"Data only becomes valuable when it is circulated and utilized. Registering data assets is a crucial step towards enabling data circulation," a person in charge at Haixinyu explained. 

After data assets are registered, companies can increase their creditworthiness by leveraging the added value of these assets, thereby expanding their financing channels and enhancing the scale of financing.

Following the completion of data entry, high-value data assets can be offered to other enterprises in the market, supporting their research, production, sales, and other activities. Furthermore, they can be provided to artificial intelligence enterprises as essential resources for training large-scale models and machine learning.

Lang Peipei, an expert at the Beijing International Data Exchange, said that progress is being made in the city's first batch of data asset evaluation pilot projects, especially in sectors such as healthcare and state-owned enterprises. Additionally, many companies have secured loans or lines of credit from banks by leveraging their data assets as collateral.

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