Beijing Plans to Develop Token Economy Under 15th Five-Year Digital Plan

The notable move here is not the technology but the framing: Beijing is treating tokens as a data-valuation mechanism, not as tradable crypto assets, which keeps the initiative inside state-led digital infrastructure rather than open markets. That distinction shapes who benefits — state-linked data exchanges, cloud and AI service providers positioned around token factories and agent-economy models, rather than public blockchain projects. Whether this municipal language translates into national policy in the next five-year cycle, and whether any of it becomes interoperable with existing RWA infrastructure, is the open question worth watching.