China localities unveil action plans to promote blockchain development

Updated: 2020-05-14

  BEIJING, May 12 (Xinhua) -- Authorities in many regions across China have recently unveiled action plans to promote the blockchain development, the Xinhua-run Economic Information Daily reported on Tuesday.

  For example, southwest China's Guizhou Province issued a circular to accelerate application of the blockchain technology and industrial development. It aims to build 3 to 5 blockchain-based open innovation platforms and public service platforms, introduce and cultivate more than 100 growing blockchain enterprises.

  Central China's Hunan Province unveiled a three-year action plan for the development of the blockchain industry from 2020 to 2022. It has set a goal of equipping 30,000 enterprises with blockchain technologies by 2022.

  Likewise, authorities in Guangzhou, capital of south China's Guangdong Province, and Ganzhou, a city in east China's Jiangxi Province, also unveiled plans to cultivate a number of key blockchain enterprises and promote the application demonstration scenarios.

  The COVID-19 epidemic has spurred domestic demand for digital social governance innovation and the construction of soft and hard infrastructure, said Cao Shengxi, an associate researcher at the International Monetary Institute (IMI) of Renmin University of China.

  The development of the blockchain industry in China will focus on the new infrastructure with the blockchain as a new technology infrastructure, and the blockchain technology-based transformation for industrial chains and government governance, according to Li Lianxuan, a researcher of OK.cn, a leading blockchain group.

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