China Calls for National Blockchain and Computing Networks
China is calling for a national blockchain network and an integrated computing network to connect the digital economy with real-world industries. The proposals appear in an opinion from the Communist Party of China Central Committee and the State Council, published by Xinhua on Oct. 9.
The plan also covers data ownership and trading rules, data-market pilots, cross-border data flows, manufacturing digitalisation and the industrial internet. It supports investment in technology and builds on earlier guidance encouraging banks to use blockchain to share tax data for small-business lending. The policy signals support for blockchain infrastructure, but gives no timetable or funding details and does not announce a public cryptocurrency or token.
Separately, the People’s Bank of China approved eight additional digital yuan operators, bringing the total to 30. The developments indicate continued state investment in blockchain, computing and digital finance, while restrictions on private crypto businesses remain in force.
Neutral
The announcement is neutral for cryptocurrency prices because it supports blockchain infrastructure without naming a public token or changing the rules governing private crypto trading. In the short term, traders may see the policy as evidence of state interest in blockchain, but the lack of implementation dates, funding details or a direct link to a tradable asset limits its price impact. The digital yuan operator expansion concerns a state-controlled payment system and does not, by itself, create demand for a freely traded cryptocurrency. Over the longer term, investment in computing and blockchain could encourage broader adoption of the technology, but China’s continuing restrictions on private crypto businesses limit any direct upside for crypto tokens. Similar infrastructure announcements can lift sector sentiment temporarily, while token prices tend to depend more on concrete adoption, regulation and market-wide conditions.