Ministry of Industry and Information Technology Pushes for More Blockchain Research in China

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Beijing’s top authority for the tech sector has called for Chinese industry to expand its blockchain research efforts.

On 27 May Li Guanyu (李冠宇), vice-head of the Informatisation and Software Department of the Ministry of Industry and Information Technology (MIIT), said that MIIT is “currently pushing for related industry research to unleash the value of the blockchain and drive the healthy growth of the blockchain sector.”

Li said that following a concerted push in terms of policy, technology and markets, more and more industries in China are focusing on as well as exploring blockchain applications.

According to Li the blockchain has the potential to “energise” China’s real economy, with blockchain growth and accelerated integration with the real economy playing a vital role when it comes to the creation of a digital economy and achieving high-quality growth.

Li said that as the industry regulator, MIIT would “strive to drive blockchain related industry research, technological R&D and promotion of applications; create an outstanding environment for growth, unleash the value of the blockchain, and expedite the healthy growth of blockchain industries.”

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