China Banking and Insurance Regulatory Commission: Encouraging the Use of Technologies such as Blockchain to Develop Supply Chain Finance and Promote the High-Quality Development of Digital Finance

BlockBeats News, December 26th, the General Office of the China Banking and Insurance Regulatory Commission recently issued the "Implementation Plan for the High-Quality Development of Digital Finance in the Banking and Insurance Industry," aiming to enhance the quality and efficiency of financial services through digital technology and data elements. Regarding serving the advanced manufacturing industry, the plan requires strengthening credit support for the digital transformation of the manufacturing industry, using technologies such as big data and blockchain to standardize the development of supply chain finance, and actively meeting the financing needs of upstream and downstream enterprises in the industrial chain.

At the same time, the plan requires financial institutions to actively explore the innovative application of cutting-edge technologies such as blockchain, quantum computing, Beidou satellite technology, virtual reality, and augmented reality in the financial field.