Shanghai’s launch of a Blockchain Innovation Fund and cross-region digital identity measures marks a significant step in global blockchain and data standardization efforts.
At the 2025 Global Digital Commerce Conference, Shanghai unveiled its Blockchain Innovation Fund and introduced cross-region digital identity and electronic certificate recognition. The city also announced new data export standards and a blockchain-based letter of credit application. These developments build on earlier cooperation with Singapore in digital identity and blockchain credit, reinforcing efforts to standardize mining data exports and enhance trusted industry data spaces.