Key Notes
- CFX gained approximately 40% over roughly two days, while its rolling 24-hour advance was about 12% at the October 11 market snapshot.
- China’s October 9 economic guidelines call for a national blockchain network but do not identify Conflux, an operator or a native token.
- Conflux has an established China Telecom collaboration, but the new policy does not confirm its participation or reverse mainland crypto restrictions.
Conflux’s CFX token gained about 40% over roughly two days as China called for the construction of a national blockchain network in a new economic policy document. The rally puts the project’s Chinese connections back in focus, although the government’s proposal does not name Conflux or designate its token for any national infrastructure.
CFX traded at 0.06957 USDT on Binance at 17:22 UTC on October 11, compared with 0.04974 USDT at the opening of the October 9 17:00 UTC hourly candle. That represents an increase of approximately 39.9%, calculated from the exchange’s hourly data and latest quote.
The policy and the price advance are separate, verifiable developments. Their timing does not establish how much of the buying was driven by the announcement, and the document does not confirm a commercial role for Conflux.
CFX’s Two-Day Rally Differs From Its Daily Gain
Binance’s market data showed a smaller rolling 24-hour gain of 11.96% at the same snapshot. During that period, CFX traded between 0.05809 and 0.07280 USDT, with approximately 38.45 million USDT in turnover on the CFX/USDT spot pair.
The latest quote was about 4.4% below that daily high. On OKX, the corresponding spot pair traded at 0.0696 USDT, providing a second exchange reference close to Binance’s price. These are venue-specific spot readings, rather than a consolidated market price or a measure of trading across every exchange.
The distinction between the two windows matters: the roughly 40% advance covers a little more than 48 hours, while the roughly 12% figure covers the preceding day. Both reflect a point-in-time market snapshot.
China Places Blockchain Within Its Industrial Strategy
The Communist Party of China Central Committee and the State Council issued guidelines on developing “new quality productive forces,” a policy framework emphasizing innovation and industrial upgrading. The original government page was published on October 9 at 18:16 Beijing time, or 10:16 UTC.
Measure nine of the Chinese text calls for a national integrated computing network and a national blockchain network. It places those projects alongside manufacturing digitization, smart manufacturing and industrial internet development.
The surrounding provisions address data ownership, trading, the distribution of benefits and protection of rights. They also call for improving national data infrastructure and connecting the digital economy more closely with the real economy.
However, the blockchain provision does not identify an operator, select a public chain, specify a native token or give a dedicated launch timetable. It establishes a policy objective, rather than announcing that a completed national network is already operating.
An official English summary describes 19 measures across five areas, including scientific innovation and its integration with industry. That broader framing is relevant to the crypto market: blockchain is one component of an industrial program, not the sole subject of the announcement.
Conflux’s China Connections Have a Documented History
Conflux is a public Layer 1 blockchain. On its mission page, the project describes itself as China’s only regulatory-compliant public, permissionless blockchain. That is Conflux’s own characterization; it should not be read as evidence that Beijing has exclusively licensed CFX or chosen the network for this policy.
Its relationship with China Telecom is more concrete. In May 2023, the organizations unveiled a jointly developed blockchain SIM card in Shanghai. The announcement described a card capable of generating and storing cryptographic keys and signing transactions without the private key leaving the card.
At the demonstration, Conflux co-founder and chief technology officer Wu Ming transferred a commemorative NFT between accounts associated with the Shanghai Conflux Research Institute and China Telecom. The release outlined a Hong Kong pilot before expansion elsewhere. That announcement documents an earlier collaboration, rather than a new contract under the October 2026 guidelines.
CFX has functions within the existing Conflux network. The project’s network overview identifies transaction fees, staking, storage and governance among its uses. A broader national commitment to blockchain does not itself establish additional demand for those functions or require government projects to buy CFX.
Blockchain Support Does Not Reverse Crypto Restrictions
China’s promotion of blockchain infrastructure also sits alongside its restrictions on cryptocurrency-related financial activity. The People’s Bank of China’s 2021 notice treated activities including fiat-to-crypto exchange, trading intermediation and crypto derivatives as illegal financial activities. It also addressed overseas exchanges serving mainland residents online.
CoinScreamer has previously covered that distinction in its reporting on China’s crypto enforcement. The new industrial guidelines do not announce a repeal of those restrictions or authorize retail cryptocurrency trading.
For Conflux, the next substantive development would be an implementation document, procurement decision or partnership that identifies its role. Until then, the confirmed story is a sharp CFX rally alongside a national blockchain policy commitment, with the network’s participation still unestablished.
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