The State Administration of Financial Supervision: Encourage the use of blockchain and other technologies to develop supply chain finance and promote high-quality digital financial development

Mars Finance News, according to Zhitong Caijing, the General Office of the National Financial Regulatory Administration issued the “Implementation Plan for High-Quality Development of Digital Finance in Banking and Insurance Industries.” The plan proposes to serve the development of advanced manufacturing. It aims to utilize industrial internet and industrial knowledge graphs to improve data collection, analysis, and application capabilities for manufacturing enterprises’ production transactions, warehousing, logistics, and other links. It emphasizes strengthening credit support for the digital transformation of manufacturing industries, using technologies such as big data and blockchain to standardize the development of supply chain finance, and actively connecting with the financing needs of upstream and downstream enterprises in the industrial chain. It also encourages the use of digital technology to provide insurance compensation services for the first major technical equipment, the first batch of new materials, and other key items, enhancing safety risk prevention capabilities.