Abstract: As a special type of capital, digital capital is formed based on new conditions in terms of technologies, production factors and organizations, for which there are special reproduction methods and operating rules. Therefore, on the one hand, digital capital has a stronger positive effect of optimizing resource allocation and improving labor productivity; and on the other hand, it is also accompanied by a faster and more hidden negative effect of aggravating the differentiation of social wealth. However, the operating rules of digital capital are also be integrated within different basic economic systems of society, thereby showing different specific characteristics and trends. Under the socialist system with Chinese characteristics, the operation of digital capital is constrained by external systems at macro, meso, and micro levels as well as guided by and coordinated and associated with public capital, thus forming operating mechanisms and positive convergence trends of digital capital with Chinese characteristics. Entering a new stage of development, in order to better promote the healthy and orderly operation of digital capital in China, we should further improve the restraint and supervision mechanisms on the negative effects of digital capital, and continue to innovate the coordination and amplification mechanisms on the positive effects of digital capital.

Key words: digital capital, operating rules, effect mechanisms of Chinese characteristics

摘要： 数字资本作为一种特殊的资本类型，其形成立足于新的技术条件、要素条件和组织条件，为此具有特殊的增殖方式和运行规律，这使得其一方面具有更强的优化资源配置和提高劳动生产率的正面效应，另一方面也伴随着更快速、更隐匿的加剧社会财富分化的负面效应。但数字资本的运行规律也会与不同社会基本经济制度相结合，呈现出不同的具体作用特征和作用趋势。在中国特色社会主义制度下，数字资本的运行还会受到宏观、中观、微观等不同层次外部制度的约束作用，以及公有资本的引导、统筹和联通作用，继而形成了具有中国特色的数字资本运行机制和正向作用收敛趋势。进入新发展阶段，为更好促进我国数字资本的良性有序运行，应进一步完善对数字资本负面效应的约束和监管机制，同时持续创新数字资本正面效应的统筹和放大机制。

关键词: 数字资本, 运行规律, 中国特色作用机制