The State Administration of Taxation and the National Financial Regulatory Administration of China have called on banks to integrate blockchain and privacy computing into lending systems, aiming to improve transparency and expand access to financing for small businesses.
The initiative focuses on upgrading the ‘bank-tax interaction’ model by strengthening data sharing between financial institutions, tax authorities, and enterprises.
Authorities emphasise the need to standardise data exchange and reduce information asymmetry, which has long limited credit access for smaller firms. Improved credit models and faster approvals aim to support compliant businesses while boosting financial efficiency.
The directive aligns with China’s broader strategy to build a national data infrastructure supported by blockchain technology. A roadmap led by the National Development and Reform Commission targets nationwide implementation by 2029, with projected annual investment reaching 400 billion yuan.
Despite strict restrictions on cryptocurrency trading, China continues to promote blockchain as a core technology for economic development. Earlier initiatives, including blockchain invoicing, show a steady push to integrate the technology into real-world finance and administration.
Strengthening data sharing and transparency in lending could improve access to finance for small businesses, which remain a key driver of economic growth.
Wider blockchain integration may also support more efficient financial systems, reinforce trust in institutional processes, and advance China’s long-term digital infrastructure strategy.
Originally written by: Digital Watch
Source: Digital Watch
Published on: 12 April 2026
Link to original article: China pushes blockchain adoption in banking sector
