China’s SASAC Sets Up National Data Group Co., Ltd.

The creation of a national data group under SASAC signals that China is centralizing state control over data as an economic asset, not just a regulatory matter. For crypto and RWA markets, the relevant question is how this entity's mandate might shape cross-border data flows and the legal treatment of tokenized real-world assets that depend on data access. The notice provides no detail on the group's functions, so whether it becomes an operator, a broker, or a standard-setter is the open question worth watching.