China Pushes Banks to Use Blockchain in Lending Services

China's tax authority has issued a joint policy notice with the National Financial Regulatory Administration urging banks to adopt blockchain technology in lending services. The move is part of China's effort to integrate blockchain into its data infrastructure, following a roadmap released by the National Development and Reform Commission targeting nationwide implementation by 2029.

The directive aims to standardize data sharing between tax authorities, banks, and enterprises, reducing information asymmetry and improving credit models. This will enable banks to increase financing services for