On January 16, 2025, the “Data Elements for New Productivity in Digital Economy Summit” was held in Hong Kong, China. With the theme of “Facilitating the flow of data elements to promote the development of new productivity in digital economy”, the Summit focuses on the innovative development of data-driven digital economy and the effective utilization of new productivity in different fields. Mr. Leung Chun-ying, Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) and Chairman of the International Information Technology Association of the Greater Bay Area (IITA), Mr. Paul Chan, Financial Secretary of the Hong Kong SAR Government, Mr. Liu Guangyuan, Deputy Director General of the Liaison Office of the Central People's Government in the Hong Kong SAR, Mr. Reinhold Achatz, Chairman of the Board of Directors of the International Dataspace Association (IDSA), and Mr. Liu Dong, Director of CFIEC, were among the guests attending the summit. Summit. At the summit, the International Data Industry Alliance (IDIA) was formally established, and the “International Cross-border Trusted Data Space - Hong Kong Station” was used as an opportunity to build the Hong Kong International Data Port by aggregating the strength of the industry.

Figure: Establishment Ceremony of International Data Industry Alliance

The International Data Industry Alliance (IDIA) aims to aggregate energy within the industry, promote the healthy development of the data industry, facilitate technological innovation and application, and enhance the competitiveness of related companies and organizations in the global market by integrating resources. The founding members of IDA include Guangdong-Hong Kong-Macao Greater Bay Area Big Data Institute, Hong Kong Data Center Association (HKDCA), China Future Internet Engineering Center (CFIEC), Hong Kong-Shenzhen Innovation and Technology Park (HKSTP), China Cloud Computing Research Institute (CCRI), Cross-border Data Technology of Shanghai Lingang New Area (LKNZ), Hong Kong Article Numbering Institute (HKACI), International Dataspace Association (IDSA), Big Data (Group) Limited (BDA) of CloudGuizhou, International Association of Information Systems Auditors (IAISA) (HK Chapter), Applied Science and Technology Research Institute of Hong Kong (ASTRI), and International Association of Information Systems Audit (ISAC) (Hong Kong Chapter). Ltd, International Association of Information Systems Auditors (Hong Kong, China Chapter), Hong Kong Applied Science and Technology Research Institute, Shenzhen Qianhai Big Data Resource Management Center Limited, Hong Kong Cyberport Management Company Limited, Shenzhen Qianhai Data Service Co.

After the establishment of the International Data Industry Alliance, it will promote international cooperation, facilitate collaborative development of the industry, formulate industry standards and norms, promote technological innovation and application, cultivate talents and knowledge dissemination, and enhance socio-economic benefits as the main working objectives, and bring together all sectors of the data industry to improve the operational efficiency of various industries and promote the emergence of new business models, and ultimately promote the economic and social development and development of the economy. models, and ultimately promote the overall progress of the economy and society.

Figure: Memorandum of Understanding (MOU) on “International Cross-border Trusted Data Space - Hong Kong Station” was officially signed.

At the summit, Reinhold Achatz, Chairman of the Board of Directors of the International Data Space Association (IDSA), and Liu Dong, Director of the National Engineering Center for Next Generation Internet (NECNGI), officially signed the Memorandum of Understanding (MOU) of “International Cross-border Trusted Data Space - Hong Kong Station”.

The construction of “International Cross-border Trusted Data Space - Hong Kong Station” will connect the global data circulation network, participate in the formulation of standards and rules for data circulation, improve the ecological system of data industry, provide a clear technical path for the construction of international data circulation hub, and comprehensively realize the trustworthy interconnection of data and the value of co-creation. Hong Kong Station is jointly initiated by the International Data Space Association (IDSA) and the National Engineering Center for Next Generation Internet under the support of the International Data Industry Alliance. Through the construction of “International Cross-border Trusted Data Space - Hong Kong Station”, the core node in the global data circulation network will be built based on the established advantages of Hong Kong and the support of the Mainland. It will explore an international data circulation trading platform built on data space and Web3 technology, promote data valorization with science and technology finance, improve the efficiency and enthusiasm of data circulation, explore more modes of data assetization and capitalization, inject new impetus into the data industry, and help the high-quality development of the global digital economy.