{"id":25145,"date":"2026-04-06T11:17:18","date_gmt":"2026-04-06T11:17:18","guid":{"rendered":"https:\/\/bitunikey.com\/news\/china-urges-banks-to-adopt-blockchain-for-tax-data-sharing-and-credit-access\/"},"modified":"2026-04-06T11:17:24","modified_gmt":"2026-04-06T11:17:24","slug":"china-urges-banks-to-adopt-blockchain-for-tax-data-sharing-and-credit-access","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/china-urges-banks-to-adopt-blockchain-for-tax-data-sharing-and-credit-access\/","title":{"rendered":"China urges banks to adopt blockchain for tax data sharing and credit access"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p>China\u2019s regulators are pushing for banks to upgrade the \u201cbank-tax interaction\u201d model in a bid to expand financing for small businesses.<\/p>\n<div id=\"cn-block-summary-block_9b3435f02ab66dee60fbd0304c60ddd3\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>China has urged banks to upgrade the bank tax interaction model using blockchain and shared data to improve financing access for small businesses.<\/li>\n<li>Authorities are pushing for better credit models and faster approvals, with a focus on extending loans to compliant and tax paying enterprises.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to a <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.nda.gov.cn\/sjj\/zwgk\/zcjd\/0107\/20250107162401487361767_pc.html\" target=\"_blank\" rel=\"nofollow\">policy notice<\/a> issued by the State Administration of Taxation and the National Financial Regulatory Administration, banks and taxpayers should standardize data sharing to reduce information asymmetry between tax authorities, banks, and enterprises.<\/p>\n<p>Further, the agencies suggested improving credit models, enhancing approval efficiency, and increasing the supply of financing services to \u201chonest, tax-paying enterprises.\u201d<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>China published a National Development and Reform Commission <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.ndrc.gov.cn\/xxgk\/zcfb\/tz\/202501\/t20250106_1395455.html\" target=\"_blank\" rel=\"nofollow\">roadmap<\/a> in January 2025 that directed the integration of blockchain into data infrastructure, with nationwide implementation expected by 2029.<\/p>\n<p>Key officials like Shen Zhulin, deputy director of the National Data Administration, believe the initiative could attract around 400 billion yuan (about $58 billion) in yearly investments.<\/p>\n<p>Meanwhile, in 2019, Chinese President Xi Jinping called blockchain a \u201cbreakthrough\u201d and urged its integration into the real-world economy; subsequently, China expanded the country\u2019s first blockchain-based electronic invoice system through the Shenzhen Tax Bureau.<\/p>\n<h2 class=\"wp-block-heading\">China\u2019s anti-crypto push<\/h2>\n<p>Despite backing blockchain development, China has remained strict on cryptocurrencies and speculative digital asset trading.<\/p>\n<p>In 2021, authorities issued a joint circular effectively imposing a nationwide ban on crypto transactions and mining.\u00a0<\/p>\n<p>More recently, in February 2026, regulators expanded this framework to explicitly cover stablecoins and tokenized real-world assets, requiring prior approval for any RMB-pegged stablecoin issuance and warning that unlicensed tokenization activities will be treated as illegal financial operations.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>China\u2019s regulators are pushing for banks to upgrade the \u201cbank-tax interaction\u201d model in a bid to expand financing for small businesses. Summary China has urged banks to upgrade the bank&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2175,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25145","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/25145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=25145"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/25145\/revisions"}],"predecessor-version":[{"id":25146,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/25145\/revisions\/25146"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/2175"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=25145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=25145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=25145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}