Key facts
- China aims to largely complete its national blockchain network by 2030.
- The plan targets wider blockchain use in trade, finance, manufacturing, and agriculture.
- Stronger technical standards for blockchain are also a priority.
China has set a 2030 target for largely completing a national blockchain network under its five-year digital development plan. The 15th Five-Year Plan for National Informatization, published Friday by the Central Cyberspace Affairs Commission, calls for deeper blockchain use in trade and finance in the Yangtze River Delta, and deployment at scale in manufacturing and agriculture in the Chengdu–Chongqing region. The plan also emphasizes stronger blockchain technical standards and greater use of the technology in data circulation and trading. While mainland China bans cryptocurrency-related business activities, it promotes blockchain technology as a national priority. President Xi Jinping previously called for greater investment in blockchain as a key area for developing China's technological capabilities.