The State Financial Regulatory Commission encourages the use of technologies such as blockchain to develop supply chain finance and promote the high-q...

According to Odaily Odaily, the General Office of the State Financial Supervision and Administration Bureau recently issued the "Implementation Plan for High-Quality Development of Digital Finance in the Banking and Insurance Industries," aiming to drive the improvement of the quality and efficiency of financial services through digital technology and data elements. Regarding services to advanced manufacturing, the plan requires strengthening credit support for the digital transformation of manufacturing, utilizing big data, blockchain, and other technologies to regulate the development of supply chain finance, and actively connecting with the financing needs of upstream and downstream enterprises in the industrial chain.

Meanwhile, the plan requires financial institutions to actively explore innovative applications of cutting-edge technologies such as blockchain, quantum computing, BeiDou satellite technology, and virtual reality/augmented reality in the financial field.