@tayshuling23
China’s blockchain policy emphasizes state-controlled innovation, with the digital renminbi (e-CNY) and industrial blockchain as key pillars. The e-CNY, launched by the People’s Bank of China, aims to replace physical cash, enhance financial inclusion, and internationalize the renminbi, leveraging a centralized blockchain for secure, efficient transactions. Pilot programs in cities like Shenzhen and Suzhou test its functionality, with over 180 million wallets opened by 2025. Industrial blockchain applications, supported by the 14th Five-Year Plan and a $54.5 billion roadmap, focus on supply chain, judicial systems, and smart governance. While cryptocurrencies are banned, China promotes blockchain to boost global competitiveness, aligning with its digital economy vision
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