Overview / Measures / DAVI
Asset class II · Data as an asset

DAVI · Data Asset Valuation Index

What a data asset is listed at, transacted at, carried at on the balance sheet, and pledged at — four curves, public and recomputable.

INTAKE No reading is published before issue 1 is ingested. No estimates, no placeholder values — better an empty slot than a fabricated number a machine reader would scrape.
Reading
—
Issue 1 not yet published
Observations ingested
0
each with source_url
Sources registered
4
all publicly verifiable
Cadence
monthly

1. Why this index exists

Since the Ministry of Finance's interim rules on accounting for corporate data resources took effect, capitalising data has become a mandatory disclosure item; listings and pledge-financing cases at the Shanghai, Shenzhen, Guiyang, Beijing and Zhejiang exchanges keep growing.

Guizhou's Data IP Valuation Guide (DB52/T 1902-2026) landed on 1 November 2026 — still a local standard, and mostly an operating guide to income, cost and market approaches rather than benchmark values.

The MoF Guangdong supervisory bureau put it bluntly: there is no unified valuation framework for data resources; cost-based carrying amounts understate the commercial value of future benefits, and valuations from different firms diverge widely with low industry acceptance.

A public, recomputable, continuously updated price benchmark: none.

Whitespace check

Adjacent slotIncumbentOverlap?
Valuation 'method' standardsCAS guidance on data asset valuation + Guizhou local standardNo — standards give methods, not market values
Data exchange listingsself-reported listing counts (heterogeneous, non-comparable, not indexed)No — raw data is collectable, nobody has built a benchmark
Academic pricing studiesscattered papers, mostly surveys and case studiesNo — no persistent public dataset
Recomputable valuation benchmarkNoneThe gap this index fills

Whitespace check performed 8 November 2026. Sources listed at the foot of this page.

2. Definition and formula

Curve A listing price = quoted price of data products on the exchanges (per record / per year / per call) Curve B transaction price = matched-exchange and government data-service unit prices Curve C carrying value = 'data resources' disclosed in annual reports / disclosed volume metric Curve D pledge valuation = appraisal value and actual financing amount in pledge registrations Spread metrics: A - B (listing froth) · C vs D (book-versus-market divergence) · pledge ratio = financing / appraisal

Stratification

Data typefinancial / credit / transport / medical / meteorological…
Regionexchange jurisdiction
Scaleby record count or licence scope
Usageone-off / annual subscription / API call
Core innovationfour mutually verifiable price bases for one asset class — turning the policy complaint that valuations diverge into a trackable time series

3. Source register

SourceContentCaptureCadenceStatus
Five data exchanges (Shanghai / Shenzhen / Guiyang / Beijing / Zhejiang)listed products, transaction notices, market disclosuressite scraping + notice sectionsweeklystatutory public
Listed-company annual reports'intangibles - data resources' note disclosures (mandatory since 2025)CNINFO / SSE / SZSE filings scrapingquarterlystatutory public
IP administration and market-regulator noticesdata IP pledge registrations and financing casessite scrapingmonthlystatutory public
China Government Procurementunit prices for data-service procurementshared pipeline with CIDXweeklystatutory public

Shares the government-procurement pipeline with CIDX; the four-way cross-check is the family's academic selling point

4. Outputs and machine endpoints

CadenceOutputAccess
monthlyfour-curve snapshot plus spread metric readingsfree
quarterlyChina Data Asset Valuation Watch: capitalisation disclosures, pledge-ratio trend, regional mixfree
machine/api/v1/davi/latest.json · record list CSV with source linksPro

/api/v1/davi/latest.json

Field shape is identical across the family: ticker / status / reading / observations / unit / cadence / methodology_version / next_publication. Parse once, cover all five.

5. Status and milestones

Current status：INTAKE　 Readings are published only after issue-1 observations are ingested. Every number on this page is an actual ingested count; nothing is estimated.
StageActionAcceptance (recomputable)
30-day probe650 records ingested (500 listings + 100 capitalisations + 50 pledges); publish Data Asset Valuation Watch issue 0one reply from an appraisal firm, a city bank's pledge desk, or an exchange
90 daysmethodology page + Zenodo v1.0 + monthly pipelinegovernance firewall in place: advisory separated from index editing (separate entity or public declaration), plus 3+ external methodology reviews
12 months4th quarterly; first per-transaction bank subscription; working paper on SSRN3+ third-party citations (academic or research); service revenue moved off the index milestones and tracked separately

6. Red lines

  • Heterogeneity: data products are not standardised (licence scope, freshness, exclusivity differ) — strata must be fine enough to recompute from the methodology page; coarse beats false.
  • Incomplete transaction disclosure: curve B may be far smaller than curve A — state coverage honestly, never extrapolate.
  • Conflict of interest: the same entity also sells capitalisation advisory — the index accepts no paid ranking or inclusion, and advisory clients get no disclosure advantage, otherwise the benchmark's neutrality is self-destroying. Advisory is separated first and readings follow: DAVI publishes no reading until the firewall is in place.
  • Red line: imply no official relationship with any exchange or regulator; hold no equity in, and list no favours for, any measured party; version every methodology change.

7. How to cite

Free to cite for research and press. Always give the ticker, the version and the URL — dropping any of the three breaks machine traceability.

Tian, B. (2026). DAVI v1.0 — Data Asset Valuation Index. SpreadBench. https://spreadbench.com/davi.html

Other citation formats (APA / MLA / Chicago / BibTeX) · Data licence

All measuresNCSX-ISGRVIDCPICIDXDAVI