China’s top political and administrative bodies have put a national blockchain network inside a broader economic plan. A policy document released on Oct. 9 by the Central Committee of the Communist Party of China and the State Council says the country wants to connect blockchain technology more fully with its digital infrastructure. The same document covers data sharing, computing resources, and the digital economy. It does not say the government is opening crypto trading.
China’s Plan and What It Says
The document is titled Views on the Development of New Qualified Productive Forces. It calls for tighter integration between the real economy and the digital economy. It also points to better data infrastructure, faster digital transformation in manufacturing, and support for industrial internet projects. Another part describes the Processing Eastern Data in the West project. That effort aims to link data centers and computing resources across the country. The planned national blockchain network would likely sit inside this wider system. But the text does not define the network’s design, budget, start date, or operator. It also does not mention Bitcoin, Ethereum, or any other cryptocurrency. There is no statement about whether the network would be permissionless or carry a public token.
Why Conflux Moved
Conflux, a project with Chinese ties, drew attention after the document circulated. Traders treated it as one possible beneficiary of China’s blockchain infrastructure push. The price of $CFX rose by about 28%. Market data showed roughly $204 million in 24-hour trading volume and a total market cap near $357 million. That means volume equaled about 57% of market value, a level that suggests heavy buying and selling. The Relative Strength Index for $CFX climbed to 63. That reading points to stronger upward momentum, though it remains below the 70 level often treated as overbought. So the move was strong, but not necessarily stretched by that one measure.
What the Document Does Not Say
It would be wrong to read the plan as an end to China’s crypto restrictions. Beijing has spent years limiting crypto trading while supporting permissioned blockchain work for agencies, companies, and industrial use. The new network may be used for public data sharing, digital identity, supply chain tracking, financial reconciliation, and verification of industry data. Those are practical uses, not a signal that a free-trading crypto market is returning. The National Development and Reform Commission had already outlined a national blockchain network construction project for 2026-2030. The latest document confirms that the idea now has backing from the country’s top political and administrative institutions. For now, Conflux’s jump looks like a market reaction to policy language, not a confirmed change in China’s crypto stance. This is not investment advice.
