A joint release by the Chinese National Development Commission (NDC) and the Ministry of Industry and Information Technology (MIIT) unveiled a The Three-Year Action Plan to Expand and Upgrade Information Consumption (2018-2020)
The official MIIT website said the action plan's primary concern is the application of information technology (IT) in the real economy. This includes financial technology (fintech), blockchain algorithms, and other businesses. The announcement signals that the government is serious about using blockchain and IT as a tool instead of a distinct economic segment.
“At present, China's economy has shifted from a high-speed growth stage to a high-quality development stage,” MIIT said. “Along with the continuous improvement of the income level of residents and the profound changes in the consumption structure, the total consumption demand in China has rapidly increased, and the structure has continuously moved to the high en...
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