Abstract: Data has become a key production factor in China’s economic and societal development, with the circulation and value realization of data elements progressively becoming a crucial means for the high-quality development of the digital economy. This paper reviews the literatures and practices concerning the value creation of data elements, examining aspects such as the connotation, mechanisms, driving factors, obstacles and development paths. Based on this, this paper identifies gaps in the existing literatures on the value creation of data elements, advocating for a future research agenda that emphasizes interdisciplinary integration. It also proposes to explore future research directions and methodologies from perspectives including the conceptualization and measurement of data element value, determinants, and mechanisms of influence.

Key words: Data elements, Value of data elements, Data trading, Data assets, Digital economy