China Expands Crypto Strategy by Backing National Blockchain Network

China has announced plans for a national blockchain network. The proposal was included in a policy document issued by the Central Committee of the Communist Party of China and the State Council, as reported by Xinhua. The document situates blockchain technology within a broader expansion of the digital economy, while the ban on cryptocurrency transactions in mainland China remains in effect.

The policy document, titled “Opinions of the CPC Central Committee and the State Council on Developing New Productive Forces,” does not mention Bitcoin or other independent cryptocurrencies. Its broader agenda includes digitizing manufacturing, building a national integrated computing-power network, and advancing the “Eastern Data, Western Computing” project, which shifts data storage and computing activities toward western regions.

Beijing’s support for blockchain as infrastructure may create opportunities for enterprise and government systems, but it does not equate to permission for mainland residents to trade private cryptocurrencies. China’s existing state-backed Blockchain-based Service Network (BSN) supports government and business applications while prohibiting cryptocurrencies such as Bitcoin from operating on its rails.

BIG: China’s Communist Party and State Council just ordered a national blockchain network to be built as part of a new top-level blueprint for the country’s economy. pic.twitter.com/PD3HWTWFhl

— Cointelegraph (@Cointelegraph) October 10, 2026

Whether the proposed national system will build on the BSN is possible but unconfirmed. The policy also cautions against prioritizing virtual activity over the real economy or creating bubbles, signaling that the stated objective is practical integration with manufacturing and other economic activities, rather than unrestricted token speculation.

Related blockchain applications include the atomic settlement of tokenized assets and regulated controls for on-chain financial products, but neither establishes how China’s network will be designed.

CFX’s Rally on China Crypto Positioning

IBTimes reported that investor interest in China-linked Conflux increased following the announcement, with CFX climbing from Saturday morning and reaching highs above $0.07 on Sunday. At 8:00 a.m. EDT that day, it was near $0.066, more than 26% above the previous close.

The source describes CFX as widely seen as China’s only regulatory-compliant public blockchain, citing Conflux’s work with state-backed corporations, its approach to unregulated crypto token sales within China, and its founders’ professional and academic ties to state-run Tsinghua University.

However, the policy document does not name Conflux as the operator of the proposed network, nor does it state that CFX will be used as its token. The rally prices an association and a possible future benefit, not a government selection or confirmed integration.

The China narrative can attract speculative demand quickly, while any durable fundamental case would require evidence of a role in pilots, standards, or deployed infrastructure. The policy announcement supplies none of those confirmations. It supports the view that blockchain is part of China’s digital economy agenda.

CFX Price Snapshot: Event Highs and Later Data Differ

The reported event-session reference was approximately $0.066 at 8:00 a.m. EDT on October 11, after CFX had traded above $0.07.

The near-term test is whether the market continues to assign value to Conflux’s China-linked positioning after the headline reaction, while policy details remain unspecified. Until authorities identify implementation standards, governance, or participating networks, the announcement is a meaningful infrastructure signal but not confirmation that CFX has secured a place in China’s national blockchain network.

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