Abstract:To accelerate the construction of data factor market, activate the '' vitality '' of market development and optimize the '' order '' of resource allocation. It is urgent to build a multi-level and multi-agent data factor ecosystem and its new mechanism of market incentive and effective supervision and collaborative governance, so as to effectively promote the circulation and utilization of data factors and the release of value, and give full play to the role of data as a new factor of production to empower the development of new quality and productivity. Based on this, this article analyzes the hierarchical structure of the data element market, explains the economic theoretical logic and social welfare effects of data element value creation, and constructs a collaborative governance model for data element value creation with five main entities: government, supply side, demand side, platform, and data merchant; Propose to build an ecosystem of "market led, government guided, and supply-demand linkage" throughout the entire process and chain of data element circulation and trading, with multiple linkage and co construction, in order to activate the development vitality of the multi subject and multi-level data element market and achieve high resource allocation efficiency of data resource elements; Explore the regulatory priorities and their shifts at different stages, and clarify the principles of synergy between market incentives and effective government regulation. Finally, propose implementation path suggestions for the process of data element valuation, in order to promote the high standard supply, efficient circulation, high-level application, and effective supervision of data elements, and achieve high-quality development of the data element market.