“Huarui FinTech Salon (No. 3)”, jointly hosted by Shanghai Huarui Bank, International Monetary Institute (IMI)of Renmin University of China(RUC) and RUC FinTech Institute, was held on October 10 online. Tian Li, senior researcher of China International Economic Consultants and postdoctoral researcher at Guanghua School of Management, Peking University delivered a keynote report entitled “Data Governance Helps Build a Privacy Protection Ecosystem”. Zhou Daoxu, Director of Center for Financial Security, School of Fintech, Tsinghua University, Zeng Gang, director of Shanghai Institution for Finance & Development, Zhang Shaofeng, CEO of Bairong Yunchuang, and Cai Chunjiu, vice president of Data Management Application Promotion Branch of CESA attended the discussion. The salon was moderated by Qu Qiang, researcher and assistant director of IMI.

In the first session of the salon, Tian Li delivered a keynote speech. She first discussed the balance between data exploitation and privacy protection from the perspective of economics, the status of development of data factor market and privacy protection, the necessity and inevitability of global digital governance and data co-governance. Then, Tian Li summarized the connotation, tools and methodology of data governance, and finally discussed the basic way of data governance to strengthen personal information protection.

She pointed out that the development of data factors has the following typical facts: First, the development of digital economy has restructured the global economic development pattern, and China has become the second largest digital economy in the world. Second, data is a kind of production factor along with land, labor, capital and technology. Third, the intrinsic logic of the digital economy is economic growth driven by technological innovation. No matter from the perspective economic development needs or national top-level design, the trend of data factor is inevitable. Fourth, provinces and cities have issued policies to build data market. The process of data realizing factor value is the process of data resource utilization and capitalization. "Data products" can become data assets only when the property rights of assets are definable and tradable. Fifth, in the context of the market-based flow of data factors, the world has entered an era of co-governance of data. The United Nations advocates a new approach and a new framework for global data governance. Data security and personal privacy protection are the premise and guarantee of market-based allocation of data factors. From the perspective of economics, there is a balance between privacy protection policy regulation and social welfare. In addition, he discussed data governance from the perspective of a community with a shared future for mankind and the internal logic of balancing marketization of data factors and privacy protection to realize data co-governance.

In the second session of the salon, the experts at the meeting held in-depth discussions on such topics as domestic and foreign data strategies and policies, internal logic in the balance of data development and utilization as well as protection, and how emerging technologies consolidate and boost the construction of privacy protection ecology.