In a dramatic turn of events that sent shockwaves across global financial markets, blockchain-related assets surged overnight as investor sentiment soared following major developments in blockchain technology recognition. Bitcoin skyrocketed nearly $1000 within just six hours, briefly surpassing the $8,700 mark, while Chinese tech stock Xunlei (XNET) spiked almost 70% during intraday trading in U.S. markets. This surge followed news that China’s top leadership has elevated blockchain technology to a strategic national priority.
👉 Discover how blockchain breakthroughs are reshaping digital finance today.
Why the Sudden Surge?
The rally was triggered by a high-level political endorsement: On October 24, the Political Bureau of the Communist Party of China Central Committee held its 18th group study session focused exclusively on the current state and future trends of blockchain technology. Such sessions are rare and typically signal upcoming policy direction. When state media like Xinhua report on them, it often precedes significant regulatory or industrial shifts.
Shortly after the announcement, U.S.-listed blockchain概念股 (concept stocks) reacted explosively. Xunlei opened with a 20% gain and continued climbing, reflecting strong market confidence in real-world blockchain applications. Other notable movers included Venzee Technologies Inc., up over 50%, and Riot Blockchain Inc., which jumped nearly 10%. Meanwhile, Ethereum also showed strength, climbing close to $13 in a sharp upward move.
Bitcoin’s rapid ascent—from around $7,700 to over $8,700 in under half a day—highlighted renewed institutional and retail interest in cryptocurrencies as foundational blockchain adoption gains momentum globally.
What Is Blockchain, and Why Does It Matter?
At its core, blockchain is a decentralized, tamper-proof digital ledger that records transactions across multiple computers. Its transparency, security, and immutability make it ideal for applications far beyond cryptocurrency.
As noted by Everyday Economic News, blockchain can revolutionize everyday life through smart contracts—self-executing agreements coded directly into the system. For example:
- If a flight is delayed, compensation could be automatically issued without claims or approvals.
- Sharing economy platforms could securely connect users with underutilized assets—like electric vehicle charging stations or factory equipment—without relying on centralized intermediaries.
When combined with the Internet of Things (IoT), blockchain enables trustless peer-to-peer interactions, reducing operational costs and increasing efficiency across industries such as logistics, healthcare, and finance.
👉 See how next-gen blockchain platforms are enabling smarter, faster transactions.
China’s Evolving Stance on Blockchain vs. Cryptocurrency
It’s important to distinguish between blockchain technology and cryptocurrencies—a distinction Chinese regulators have emphasized repeatedly.
While China has taken a strict stance against cryptocurrency trading and initial coin offerings (ICOs), particularly since the 2017 joint announcement by seven government agencies banning ICOs as illegal public fundraising activities, it has simultaneously championed blockchain innovation.
That 2017 notice clearly labeled unregulated token sales as potential vehicles for fraud, pyramid schemes, and financial crime. However, it did not reject the underlying technology. Instead, China has since invested heavily in developing sovereign digital infrastructure, including the Digital Yuan (e-CNY) pilot programs and domestic blockchain service networks (BSN).
This dual-track approach—cracking down on speculative crypto while promoting enterprise-grade blockchain—reflects a long-term vision where technological sovereignty and financial stability go hand in hand.
Key A-Share Companies Advancing Blockchain Innovation
China’s A-share market hosts numerous firms actively integrating blockchain into their operations. These companies represent some of the most promising use cases in supply chain, finance, data security, and telecommunications.
🔹 JinYi Technology
Focused on intelligent transportation systems, JinYi is researching blockchain applications for ETC (electronic toll collection) and traffic big data management. By combining national encryption standards with blockchain, they aim to ensure secure data transmission, prevent toll evasion, and create immutable records of vehicle travel paths.
🔹 China Great Wall
A leader in high-performance power supplies for cryptocurrency mining hardware, China Great Wall's "Julong" series dominates the domestic market with nearly 80% share. While not directly involved in mining operations, its components are essential infrastructure for blockchain networks reliant on proof-of-work consensus mechanisms.
🔹 Mengwang Group
Established a dedicated Blockchain Division in 2018 to develop enterprise-level blockchain solutions tailored for telecom services. Their goal is to build an open-source, scalable, and secure platform that lowers entry barriers for business adoption.
🔹 Dingdian Software
Integrates blockchain technology into next-generation financial asset trading systems. Features include blockchain-based transaction ledgers and advanced electronic signatures to enhance security and auditability in capital markets.
🔹 Beixin Yuan
With deep expertise in cybersecurity, Beixin Yuan maintains a strategic R&D team focused on tracking blockchain industry trends and assessing potential applications in identity verification and secure communications.
🔹 Sifang Jingchuang
Partnered with IBM to advance blockchain deployment in Hong Kong’s banking sector. The collaboration includes establishing a Blockchain Innovation Center using IBM Cloud and Design Thinking methodologies to prototype and test cross-border fintech solutions.
🔹 G&G Technology (Yuyin Shares)
Actively researching blockchain’s role in enhancing information security and identity authentication. The company sees potential in leveraging distributed ledger technology to improve transaction integrity in financial self-service equipment.
🔹 Skyworth Digital
Exploring blockchain integration with cloud storage, big data analytics, and OTT (over-the-top) user operations. Potential applications include transparent supply chain tracking and automated settlement systems for vendors.
🔹 Huasoft Technology
Its subsidiary Huasoft FinTech developed “Jianlian,” a smart industrial finance platform that passed the state-mandated filing process with the Cyberspace Administration of China for blockchain information services—a key regulatory milestone indicating compliance and legitimacy.
Frequently Asked Questions (FAQ)
Q: Did China legalize Bitcoin after the blockchain study session?
A: No. The political recognition of blockchain technology does not equate to approval of cryptocurrencies like Bitcoin. China maintains strict bans on crypto trading and ICOs.
Q: Can I invest in Chinese blockchain stocks from abroad?
A: Yes—some A-shares are accessible via互联互通 (Stock Connect), while others like Xunlei trade as American Depositary Receipts (ADRs) on U.S. exchanges.
Q: Is blockchain only useful for cryptocurrencies?
A: Absolutely not. Blockchain has wide applications in supply chain tracking, voting systems, digital identity, healthcare records, and smart contracts.
Q: How does blockchain improve data security?
A: By distributing data across nodes and using cryptographic hashing, blockchain makes records nearly impossible to alter without detection—ideal for audit trails and fraud prevention.
Q: What is the difference between public and private blockchains?
A: Public blockchains (like Bitcoin) are open to anyone; private blockchains restrict access to authorized participants—commonly used by enterprises for internal processes.
Q: Will blockchain replace traditional banking systems?
A: Not entirely—but it will transform them. Banks are already adopting blockchain for cross-border payments, trade finance, and settlement automation.
👉 Learn how leading platforms are bridging traditional finance with blockchain innovation.
Final Thoughts
The recent market surge reflects more than short-term speculation—it signals growing recognition of blockchain as critical infrastructure for the digital economy. While regulatory caution around cryptocurrencies remains, the push for technological self-reliance ensures continued investment in secure, scalable blockchain solutions across sectors.
For investors and innovators alike, this moment marks a pivotal chapter in the evolution of decentralized systems—not driven by hype alone, but by tangible progress in real-world application.
Core Keywords: blockchain technology, Bitcoin price surge, smart contracts, cryptocurrency market, enterprise blockchain, A-share blockchain stocks, decentralized ledger, digital transformation