China Encourages Blockchain Use in Lending to Boost Small Business Financing

China's tax and financial regulators have called on banks and local authorities to integrate blockchain and privacy computing technologies into lending services. According to NS3.AI, this initiative is part of China's broader strategy to invest 400 billion yuan annually in blockchain data infrastructure. The joint policy notice emphasizes the need for standardized data sharing to minimize information asymmetry and enhance financing opportunities for small businesses.