On April 5, 2026, the State Administration of Taxation and the National Financial Regulatory Administration released guidelines urging banks and local authorities to adopt blockchain technology to secure the national data infrastructure.
This move aims to boost the flow of trusted data, improve tax and financial supervision, and unlock economic value while distinguishing regulated blockchain use from banned crypto speculation.
On April 5, 2026, the State Administration of Taxation and the National Financial Regulatory Administration jointly issued a notice titled “Further Deepening and Standardizing ‘Bank-Tax Interaction’ Work.” The directive explicitly encourages local tax authorities and banks to leverage blockchain, privacy computing, and other technologies to innovate the model in a legally compliant manner.
The initiative aligns directly with the National Data Infrastructure Construction Guidelines, released on January 6, 2025, by the National Data Administration (NDA), the National Development and Reform Commission (NDRC), and the Ministry of Industry and Information Technology (MIIT).
These guidelines position blockchain alongside privacy-preserving computation, data grids, trusted data spaces, and related technologies as key enablers for secure, traceable, and trusted data circulation across government, industry, and regional systems.
NDA Deputy Director Shen Zhulin emphasized that constructing and operating this national data infrastructure is a strategic choice for developing “new quality productive forces.” He noted that the initiative is expected to mobilize approximately 400 billion yuan in annual social investment, potentially totaling around 2 trillion yuan over five years.
China’s leaders launched this blockchain push after the Third Plenary Session of the 20th Central Committee in July 2024 explicitly called for the construction and operation of a national data infrastructure to boost data sharing and circulation. Officials treat data as a core production factor. They recognize that massive data volumes demand secure tools like blockchain to unlock value safely.
China generated 41.06 ZB of data in 2024, a 25% increase from the previous year, according to the National Data Resource Survey Report (2024) released by the National Data Administration. The report explicitly projects that national data production will exceed 50 ZB in 2025.
This explosive growth, combined with over 400,000 data-related enterprises by the end of 2024, creates urgent needs for privacy-preserving computation and trusted data spaces. Blockchain can solve complex data-flow problems, reduce costs, and build an orderly ecosystem.
(adsbygoogle = window.adsbygoogle || []).push({});These guidelines establish a clear, phased timeline that includes completing top-level design and expanded pilot programs by 2026, achieving large-scale, trusted data circulation patterns across major cities by 2028, and building the main national framework by 2029.
Notably, the related projects are estimated to attract approximately 400 billion yuan ($54.5 billion) in direct annual investment, driving a total scale of roughly 2 trillion yuan over the next five years.
By securely sharing privacy-protected tax data on a blockchain platform, banks could gain a clearer, real-time view of an enterprise’s operational health and repayment ability. This “data-as-credit” approach lowers lending risks, automates credit assessments, and broadens financing channels for smaller firms, directly addressing long-standing financing gaps.
Related: China’s Supreme Court Targets Crypto-Related Money Laundering Networks
