Blockchain Industry Policy Analysis: Layout of Beijing, Shanghai, Guangzhou, Shenzhen, and Hangzhou

The development of blockchain technology has received attention from many cities across the country. The five cities of Beijing, Shanghai, Guangzhou, Shenzhen, and Hangzhou have made layouts in the blockchain field based on their respective economic, talent, and technological advantages. Local governments have also introduced a series of policy plans to support industry development.

Beijing: Early Policy Layout, Strict Regulation

As the political and economic center of the country, Beijing has taken the lead in the layout of blockchain policies. As early as 2016, Beijing established the Zhongguancun Blockchain Industry Alliance and incubation center. In the subsequent financial technology plans, blockchain has been listed as a key development direction.

Beijing's policy orientation mainly encourages the application of Blockchain in the fintech sector. However, at the same time, Beijing's regulation of fields such as cryptocurrencies is also very strict. In 2018, the Chaoyang District of Beijing issued a notice prohibiting any form of virtual currency promotion activities.

With its unique political geographical advantages, Beijing may innovate in blockchain regulatory technology in the future. This field is still a blue ocean in China at present, and if Beijing can seize the opportunity, it is expected to continue leading the wave of blockchain innovation.

Shanghai: Development is a bit slow, but it is striving to catch up.

As one of the earliest Bitcoin trading centers in China, Shanghai was a pioneer in the Blockchain industry. However, in terms of policy support, Shanghai's pace has been relatively slow. It wasn't until the central policy became clear in 2017 that Shanghai began to accelerate its layout.

In 2018, Shanghai successively established the Blockchain Industry Center and the Technology Research Center, and introduced a series of supportive policies. Although it started late, with its strong comprehensive strength, Shanghai still has the opportunity to achieve a curve overtaking in the field of blockchain.

Guangzhou: Industry First, Policy Follow-up

Guangzhou is one of the cities in China that has introduced the most policies related to Blockchain. In 2017, Guangzhou established the Blockchain Industry Association and an innovation base, and introduced the first supportive policy for the Blockchain industry.

Under the continuous favorable policies, Guangzhou has gathered a large number of Blockchain enterprises. The latest statistics show that Guangzhou has more than 6,000 Blockchain enterprises, far exceeding other cities. In the future, Guangzhou will launch a new round of support policies, aiming to cultivate 3-5 Blockchain unicorn enterprises.

Shenzhen: Showcasing Financial Technology Ambitions

Shenzhen has mainly focused on the financial sector in terms of blockchain policies, demonstrating its determination to catch up with Beijing, Shanghai, and Guangzhou. Since 2016, Shenzhen has introduced multiple blockchain support policies, covering various aspects such as inclusive finance and technology finance.

Under the guidance of policies, Shenzhen has taken the lead in the financial application of Blockchain technology in the country. At the same time, Shenzhen has also launched substantial financial subsidies, with a single project eligible for up to 2 million yuan in funding. With a clear policy direction and generous support, Shenzhen is expected to make significant strides in empowering financial innovation through Blockchain.

Hangzhou: Leverage the Advantages of the Internet

Relying on internet giants like Alibaba, Hangzhou has an inherent advantage in blockchain talent and technology. The blockchain industry in Hangzhou covers the entire industry chain from underlying technology to applications.

The Hangzhou government's policy mainly focuses on leveraging existing advantages to form industrial clusters. In 2017, Hangzhou launched the country's first Blockchain industrial park and introduced corresponding support policies. As of August 2018, Hangzhou has 55 Blockchain technology service enterprises, and the industrial ecosystem is becoming increasingly mature.

The blockchain layout in these five cities is distinct, reflecting the industrial foundation and development strategies of each region. In the future, with the continued advancement of policies, China's blockchain industry is expected to usher in rapid development.