Share this article
China's Central Bank Vows to Push for Blockchain in Five-Year Plan
The People's Bank of China has indicated it intends to support the continued development of blockchain tech as part of a new strategic plan.
By Chuan Tian
Updated Sep 11, 2021, 1:29 p.m. Published Jun 27, 2017, 2:45 p.m.
The People's Bank of China (PBoC) is releasing new details about a forthcoming five-year development plan focused on its strategy for advancing technology use in the country's domestic financial industry.
According to the announcement by the central bank, the PBoC intends to actively push forward the development of new technologies such as blockchain and AI. It also plans to strengthen its research on applications of fintech in regulation, cloud computing and big data.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The press release emphasizes that from 2016 to 2020 the PBoC will be taking steps to help China's financial industry embrace economic reform.
Overall, the plan intends to put forward five goals for the financial technology industry: establishing a world-leading infrastructure, facilitating innovations in financial sector, implementing the financial industry standardization strategy and improving the competency and management of the financial network security system.
Looking more broadly, the release, while not yet fully public, is the latest sign the PBoC is actively looking into the potential of blockchain technology.
Last January, it is reported that the PBoC had tested a blockchain-based digital currency, and it has since begun pushing for blockchain securities rules and publishing research papers on its efforts.
PBoC image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
