Recently, the Shenzhen Data Exchange finalized an agreement with the Dongguan-based project for the Data Factor Greater Bay Area Service Innovation Center. This marks a significant step forward in the collaborative efforts between Shenzhen and Dongguan, particularly in the market-oriented reform of data factors, and ushers in a new era of intercity cooperation within the data industry sector. The partnership is centered around a comprehensive approach to data asset management, encompassing the integration of data assets into financial statements, property rights registration, scenario-based incubation, and the cultivation of a robust data ecosystem. Leveraging its core competencies in data trading, compliance services, and ecosystem development, the Shenzhen Data Exchange will support Dongguan in establishing a holistic city-level data factor service framework. This will facilitate the lawful transformation and value realization of data assets.