China Unveils Blueprint for National Blockchain and Computing Networks

The policy mandates the creation of a unified national computing network and a blockchain backbone, positioning these technologies as essential public infrastructure. Authorities are tasked with drafting comprehensive regulations for data ownership, trading, and protection, with specific pilot projects planned to treat data as a primary economic asset. These efforts align with the broader 'East Data, West Computing' program, designed to optimize the distribution of digital resources across the country.

Financial integration remains a priority, with the government encouraging banks to leverage blockchain for tax-data sharing and credit assessment. This move builds on recent expansions in the digital yuan ecosystem, which now includes 30 approved banking operators following the addition of eight institutions in August. While the state pushes for industrial digitization and competitive industry clusters, it simultaneously enforces strict oversight on offshore stablecoins and tokenized assets. These domestic shifts occur alongside intensifying global scrutiny, as the US Justice Department’s recent data security rules impose new restrictions on sensitive information flows involving China.