China’s CBIRC unveils digital finance plan using blockchain, Beidou and quantum tech to back manufacturing
China’s Banking and Insurance Regulatory Commission (CBIRC) published an Implementation Plan for high‑quality digital finance in the banking and insurance sector aimed at boosting advanced manufacturing supply chains. The plan prioritizes stronger credit support for manufacturers undergoing digital transformation and promotes standardized supply‑chain finance using blockchain and big data to serve upstream and downstream firms. It also urges financial institutions to pilot emerging technologies in finance — including blockchain, quantum computing, and Beidou satellite services — and immersive tools such as VR/AR to improve risk governance, data security and interoperability. The initiative seeks to widen capital access across the manufacturing value chain and encourage cross‑sector collaboration between finance and industry. Key themes: digital finance, supply‑chain finance, blockchain, Beidou, quantum computing, manufacturing support.
Bullish
Policy support from a major regulator (CBIRC) that explicitly ties digital finance, blockchain, and other emerging technologies to manufacturing financing is likely positive for crypto and enterprise blockchain adoption in China and for firms providing related infrastructure. Short term: market reaction may be muted because the plan is implementation‑focused and lacks immediate funding commitments; traders may see modest bullish sentiment for on‑chain finance projects and enterprise blockchain tokens tied to infrastructure providers. Long term: this reduces regulatory uncertainty around permitted applications of blockchain in supply‑chain finance, potentially increasing institutional demand for blockchain solutions and related tokens, and encouraging project partnerships with financial institutions. Similar past events: government tech push announcements (e.g., China’s support for blockchain in 2019) produced gradual increases in on‑chain enterprise activity and selective price gains in infrastructure tokens rather than broad crypto rallies. Risks: tight regulatory oversight in China and emphasis on controlled, permissioned use may limit demand for public L1 tokens; impact depends on execution and clear implementation rules.