According to the local Chinese news agency Sina Finance, the adoption rate of blockchain in China continues to be at a high level. This is going on at the same time as the Bank of China issued 20 billion yuan in a blockchain financial bond for small and micro businesses as a special loan offering. The funds are to be used for these small Chinese businesses in order to support their growth and economic development.

Around the end of September, the Bank of China made another $57.7 billion in small and micro loans to 410,000 small business owners. That was about 404 billion yuan and an increase of 35 percent over the previous amount of small business loans it gave out one year ago.

For reference, a micro business usually has 10 or fewer employees. A small business has up to 50 employees. All of this is happening as China's government is putting a greater emphasis on the digital economy. Early in December, a research arm of the Asian Forkast firm took a close look at how China is integrating blockchain technology. The Forkast Insights report noted that the technology is growing and becoming mature in China. It has a lot of practical uses that have already passed beyond the experimental or introductory stage.

In November, there was a news report that blockchain development in China would have an annual rate of growth of 65.7 percent between 2018 and 2023. The report estimated that the technology would exceed $2 billion in value by the close of 2023.

While this has been taking place, China's central bank is moving at a fast pace in order to launch a digital token. The People's Bank of China aims to use the token in order to best the United States Dollar. A real-world test of the token will take place in Shenzhen by the end of 2019. A second pilot city, Suzhou, might also be included in the testing. The People's Bank of China and four other large Chinese banks and companies will be in on the testing of digital currency payments for services.