Abstract: To speed up the construction of an “efficient,fair and secure” data market,it is necessary to accurately understand the policy guidelines laid down by the “Twenty Provisions on Data” and translate them into actionable basic legal regimes.The establishment of data property rights shall implement the principle of allocating rights in a structured regime,by attributing data property rights in accordance with various social relationships arising from data production and circulation.The construction of the ecosystem of data circulation shall primarily clarify the legal status,functional roles and operational mechanism of data exchanges,data service providers,and data registration offices.Rules governing data trade contracts shall address problems like the legality of trading data,data pricing mechanism,scope of traded data property,and the attribution of property rights over derived data,taking into account diverse business models of data trades.Besides further clarifying the first-order statutory rights of information subjects,the legal regime promoting data fair utilization shall provide a clear system of data fair uses and mandatory data trades.Also,it is important to define the scope of public data reasonably and ensure the fairness of the open access mechanism therefor.