The General Office of the China Banking and Insurance Regulatory Commission has released an Implementation Plan for the high-quality development of digital finance in the banking and insurance sector. The initiative seeks to lift service quality and efficiency by harnessing digital technology and data assets, with emphasis on supporting the advanced manufacturing ecosystem. It mandates stronger credit support for digital transformation across manufacturing, and it calls for blockchain and big data to standardize supply chain finance, addressing the finance needs of upstream and downstream firms in the industrial chain.
Additionally, the plan directs financial institutions to explore innovative applications of emerging technologies in finance, including blockchain, quantum computing, Beidou satellite technology, and immersive tools such as virtual reality and augmented reality. The aim is to enhance risk governance, data security, and interoperability while widening capital access for enterprises along the manufacturing value chain and fostering cross‑sector collaboration.
Source: https://en.coinotag.com/breakingnews/chinas-cbirc-unveils-high-quality-digital-finance-plan-using-blockchain-beidou-and-quantum-tech-to-boost-manufacturing-supply-chains
