China has set an ambitious 2030 target for completing its national blockchain network, according to a five-year digital development plan released Friday. The 15th Five-Year Plan for National Informatization outlines priorities for deeper blockchain integration in trade and finance, particularly in the Yangtze River Delta, and large-scale deployment in manufacturing and agriculture in the Chengdu, Chongqing region.
The plan, issued by the Central Cyberspace Affairs Commission, explicitly states the 2030 completion goal for a project previously included in China’s national development plan from March. A joint policy from the Communist Party’s central leadership and State Council published on Oct. 9 also emphasized the need for its construction.
The new plan calls for stronger blockchain technical standards and greater use of the technology in data circulation and trading. Despite mainland China’s ban on cryptocurrency-related business activities, blockchain technology remains a national priority. In October 2019, President Xi Jinping called for increased investment in blockchain, identifying it as crucial for developing China’s technological capabilities.