Abstract: At present, the digital economy has become a new growth driver for the high-quality development of economy, and as the driving force of the development of the digital economy, activating the potential of data elements and releasing their value have become the key measures to promote the development of the digital economy. From the perspective of the real demand and practice of the market-oriented construction of data elements, taking public data as a leverage to promote the construction and improvement of basic institutions for China’s data has become an inevitable choice to accelerate the release of the value of data elements. However, the market construction of data elements in China is still in its infancy, and public data is still facing the problems such as low availability of open data, imperfect underlying fundamental capacity, single product and service, and weak market ecology, which cannot support the efficient invocation and deep development and utilization of public data. Therefore, based on the actual situation of market-oriented construction of data elements and the availability of public data in China, this paper examines the international practice of public data opening and explores the construction of institutional system of public data opening and utilization under the digital economy.