Blockchain Bills Prove Popular at China’s Two Sessions Congressional Meeting
Representatives at China’s Two Sessions congressional meeting have submitted a slew of bills in relation to the development and application of blockchain technologies.
The 2020 Two Sessions meetings of China’s top legislative bodies kicked off in Beijing on 21 May, following a two month delay due to the COVID-19 outbreak.
Following President Xi Jinping’s call for greater blockchain development in October 2019, as well as the National Development and Reform Commission’s (NDRC) inclusion of blockchain within the remit of “new infrastructure” on 21 April 2020, this year’s Two Sessions has seen a flurry of bills in relation to distributed ledger technology.
These include bills submitted by members of China’s National’s People’s Congress (NPC), as well as the Chinese People’s Political Consultative Conference (CPPCC), mainly focus on the integration of blockchain technology with specific industries, as well as the inclusion of the blockchain in new infrastructure development.
Bills submitted by members of the NPC included:
|Cui Yu (崔瑜), chairwoman of City Commercial Banks Clearing Co., Ltd||Actively striving for advanced trials of digital currency in the Yangtze River Region. Cui has called for further payments integration of the Yangtze River Region.|
|Zhang Jindong (张近东), chair of Suning Holdings Group||Various levels of government coordinating with e-commerce enterprises in the use of blockchain and big data technology to help protect established brands.|
|Kong Falong (孔发龙), party secretary of Jiangxi Rural Commercial Bank||Support for the development of independent and controllable Made-in-China blockchain platforms, to overcome China’s weaknesses in the areas of key technologies and core patents.|
|Wang Tianyu (王天宇), chair of Bank of Zhengzhou||Driving use of blockchain and other technologies such as AI, biometrics, cloud computing and big data by small and medium-sized banks. i) Loosen digitisation regulation for smaller banks; ii) improve personal data rights protection laws, iii) establish exchange platforms.|
|Sun Pishu (孙丕恕), CEO of Inspur||Support for China’s new infrastructure development, encompassing big data, blockchain and artificial intelligence.|
|Zhou Yunjie (周云杰), president of Haier Group||Integration of 5G, artificial intelligence, cloud computing, the blockchain and the Industrial Internet of Things into China’s “new infrastructure.”|
Bills submitted by members of the CPPCC included:
|Zhou Yanli (周延礼), former deputy-chair of the China Insurance Regulatory Commission (CIRC)||Use of blockchain technology to “reforge the trust foundations of insurance.”|
|Cheng Jing (程静), chair of Zhizao Dajie (智造大街)||Application of the blockchain to various industries including aviation, logistics, finance and healthcare.|
|Luo Shaming (骆沙鸣), deputy chair of the Quanzhou municipal PPCC||Increasing special plans for blockchain research and applications in China’s 14th Five Year Plan.|
|Zhang Ye (张野), deputy-chair of the Regtech Work Committee of the China Securities Regulatory Commission (CSRC)||Exploring innovative application of the blockchain to securities funds and the futures sector.|
|Gong Fuwen (巩富文), deputy-head of the Shaanxi province Supreme People’s Court||Government driving the innovative development of blockchain technology.|
|Liu Wei (刘伟), chair of PCI-Suntek Technology||Use of blockchain technology to create city information models and platform-model artificial intelligence hubs.|
|Ou Zongrong (欧宗荣), deputy-chair of the Fujian Province Industrial and Commercial League||Rapid development of modern technologies such as the blockchain, support for digital regulation.|