China has planned the creation of a national blockchain network and an integrated computing power network in a document consisting of 19 measures for the development of technologies and the connection of the digital economy with real production. The new policy calls for changes in data ownership rules, proposes trials in the data market, mechanisms for cross-border exchange, and support for long-term investments in technology. Chinese banks have already been advised to more actively use blockchain in tax data exchange and business lending. The expansion of the digital yuan has increased the number of approved banking operators to 30.
The document with the directives of the CPC Central Committee and the State Council was published on October 9. The national blockchain network is mentioned in the section on connecting the real and digital economies, along with the modernization of production and national data infrastructure. Authorities are instructed to improve data ownership rules, trade, rights distribution, and protection of participants' interests, as well as to promote smart manufacturing, the industrial internet, and the “Eastern Data, Western Computing” program.
Separately, the document calls for the creation of an open, collaborative, and secure data market, including mechanisms for cross-border data movement and changes in the protection of economic interests. Regional authorities proposed trials of the digital yuan in the free trade zone for 2026–2030, covering offshore and green finance. In July, ICBC in Shanghai and Singapore settled about 10 million yuan through the Digital Currency Express platform.
On August 17, the People's Bank of China approved eight more banks, increasing the number of digital yuan operators from 22 to 30. In February, regulators introduced restrictions for crypto businesses: issuing offshore stablecoins pegged to the yuan requires permission. In the US, a data security program limits transactions that give countries posing a threat access to sensitive data; it came into effect in April 2025.
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