Abstract: In the context of the new development pattern, data element governance demands simultaneous attention to both development and security, while unleashing the value of data elements and addressing emerging risk challenges. Nevertheless, current research has given limited consideration to the integration of data element value and risk. Based on the principle of risk-return tradeoff, this study examines the "effect exclusion" and "state symbiosis" relationship between data element value and risk. Furthermore, it draws on information ecology theory, domestic typical cases, and foreign policies and laws to investigate the dilemma and prevention mechanisms of data element governance. The study provides a comprehensive and systematic analysis of the practical dilemmas and prevention strategies faced in data element governance by considering a balance between value and risk aspects. It also offers significant directions for future research.

Key words: Data element value, Data element risk, Data element governance, Risk-return tradeoff, Information ecology theory