As data emerges as a critical element in the digital economy, the European Union(EU) has issued a series of acts to promote the circulation and transaction of data factor, taking a leading position in the world at the legislative level.Through a comprehensive examination of the EU’s legislative processes and initiatives concerning data factors,this study seeks to extract insights applicable to our country. The research reveals that the EU, while rigorously safeguarding data security, promotes the circulation and transaction of data factors within its jurisdiction by advancing the flow of nonpersonal data, encouraging the reuse of public data, dismantling barriers between public and private sectors,and establishing a public data space. Through the comparison of the three major directions of public data open utilization, data security protection, and data circulation transactions with the EU legislation, we posit that China can adopt the relevant measures of the EU to continue to maintain data security, promote the opening and utilization of public data, and improve property rights and benefits distribution mechanism, thereby promoting the circulation and transaction of data factors in China.