Despite China’s quite tight policy towards blockchain technologies and cryptocurrencies it was difficult to imagine that any of them should make their way into the official offers made by officials. But today (January 23) China Banking Regulatory Commission (CBRC) has recommended to Chinese government implementing blockchain technologies for secondary credits.

"As the time goes on, blockchain technology will enhance the efficiency of sharing critical data such as balance sheets and foster a more liquid secondary loan market. Integrating this technology to our financial service platforms should be part of the future strategy."

Such conclusions were made by CBRC after having visited Europe and analyzed offering of syndicated credits in the region. While several European banks are already using blockchain technologies in favor to themselves Chinese officials are only starting to think about it.

Although China is one of the biggest crypto providers due to the large numbers of miners, it is safe to say that it is behind in implementing blockchain technologies. But CBRC thinks that working with blockchain can really ease the process of automating compliance reports.