Shen

<p>China’s regulators are pushing for banks to upgrade the “bank-tax interaction” model in a bid to expand financing for small businesses.</p>
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   <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>
   <li>Authorities are pushing for better credit models and faster approvals, with a focus on extending loans to compliant and tax paying enterprises.</li>
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<p>According to a <a href="https://www.nda.gov.cn/sjj/zwgk/zcjd/0107/20250107162401487361767_pc.html" rel="noopener noreferrer 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>
<p>Further, the agencies suggested improving credit models, enhancing approval efficiency, and increasing the supply of financing services to “honest, tax-paying enterprises.”</p>
<p>You might also like: <a href="https://crypto.news/rwanda-central-bank-warns-against-crypto-use-after-bybit-adds-franc-support/" rel="noopener noreferrer nofollow"> Rwanda central bank warns against crypto use after Bybit adds franc support </a></p>
<p>China published a National Development and Reform Commission <a href="https://www.ndrc.gov.cn/xxgk/zcfb/tz/202501/t20250106_1395455.html" rel="noopener noreferrer nofollow">roadmap</a> in January 2025 that directed the integration of blockchain into data infrastructure, with nationwide implementation expected by 2029.</p>
<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>
<p>Meanwhile, in 2019, Chinese President Xi Jinping called blockchain a “breakthrough” and urged its integration into the real-world economy; subsequently, China expanded the country’s first blockchain-based electronic invoice system through the Shenzhen Tax Bureau.</p>
<h2 class="wp-block-heading" id="china-s-anti-crypto-push">China’s anti-crypto push</h2>
<p>Despite backing blockchain development, China has remained strict on cryptocurrencies and speculative digital asset trading.</p>
<p>In 2021, authorities issued a joint circular effectively imposing a <a href="https://crypto.news/bitcoins-hashrate-plunge-mirrors-2021-china-ban-hashrate-index-says/" rel="noopener noreferrer nofollow">nationwide ban on crypto transactions and mining</a>.&nbsp;</p>
<p>More recently, in February 2026, regulators <a href="https://crypto.news/china-extends-crypto-ban-to-stablecoins-tokenized-real-world-assets/" rel="noopener noreferrer nofollow">expanded</a> 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>
<p>Read more: <a href="https://crypto.news/robert-kiyosaki-issues-new-warning-on-bitcoin-and-retirement/" rel="noopener noreferrer nofollow"> Robert Kiyosaki issues new warning on Bitcoin and retirement </a></p>

China urges banks to adopt blockchain for tax data sharing and credit access

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