China’s national blockchain buildout gets a 2030 finish line—crypto stays off the guest list

China has set a 2030 target to largely complete a national blockchain network under the 15th Five-Year Plan for National Informatization, published Friday by the Central Cyberspace Affairs Commission, the senior body within the ruling Communist Party that coordinates digital development policy.

The plan calls for deeper blockchain use in trade and finance in the Yangtze River Delta and deployment at scale in manufacturing and agriculture in the Chengdu–Chongqing region in southwestern China. It also calls for stronger blockchain technical standards and greater use of the technology in data circulation and trading.

The 2030 completion target makes explicit a project included in China’s national development plan released in March. A joint policy from the Communist Party’s central leadership and State Council, published on Oct. 9, called for its construction.

Mainland China bans cryptocurrency-related business activities but promotes blockchain technology as a national priority. In October 2019, President Xi Jinping called for greater investment in blockchain and identified it as an important area for developing China’s own technological capabilities. A related Chainalysis report said China P2P stablecoin wallets grew 43x despite crypto restrictions.