China Advocates Blockchain in Shanghai Financial Reform – Coincu

China’s Central Financial Committee issued the Opinions on Supporting the Accelerated Development of the Shanghai International Financial Center on June 18, 2025.

The initiative aims to expand financial openness and integrate blockchain technology into supply chain finance, enhancing international collaborations and market influence.

China’s Blockchain Push Aims to Redefine Shanghai’s Financial Role

The Central Financial Committee of China, with key institutions including the People’s Bank of China and the Shanghai Municipal People’s Government, has outlined a significant policy shift. The new Opinions intend to leverage technologies like blockchain for developing supply chain finance. The document also emphasizes the necessity for high-level financial openness and aligning with global economic standards.

Blockchain technology is being embraced to augment supply chain finance, advancing trade facilities and enterprise services under the Belt and Road Initiative’s umbrella. The integration seeks to effectively bolster Shanghai’s position as a leading international financial center, although retail-facing crypto trading remains off the table.

The market and stakeholders are witnessing strategic responses as the Lujiazui Forum hosts financial regulators endorsing this plan. “The Action Plan leverages Shanghai’s unique role in the new development paradigm,” noted a report by the People’s Bank of China. While direct commentary from global crypto figures is absent, industry enthusiasm is marked.

Expert Insights on Shanghai’s Blockchain-Driven Financial Strategy

Did you know? Shanghai’s policy evolution, guided by blockchain integration, positions it as a potential global financial giant, drawing parallels to historical precedents set during past economic reforms.

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Researchers from Coincu suggest this blockchain endorsement is likely to foster institutional collaborations in Shanghai, aligning financial ecosystems with international standards. This focus could elevate Shanghai’s global financial stature within a compliant framework, potentially accelerating enterprise-level blockchain projects.