China Registers 223 New Blockchain Services, Beijing Emerges as Leading R&D Centre

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Beijing has emerged as the leading city in China for the research and development of blockchain services projects.

On 18 June the Cyberspace Administration of China (CAC) announced the fifth set of blockchain information services projects as well as their registration codes.

The fifth set contained 223 blockchain projects, bringing the total number of registered projects to 1238. Out of these 1238 registered blockchain projects Beijing accounted for the largest number at 346, or around 28% of the total.

Within the fifth set of 223 registered blockchain projects Beijing also laid claim to the largest number at 37 in total, followed by Guangdong province with 35 and Jiangsu province with 34.

Domestic observers point out that Beijing has emerged at the fore of Chinese blockchain research because of factors including the strong presence of the Internet sector, as well as the large number of leading tertiary institutions in the capital city.

In June 2020 Beijing released a three-year blockchain development plan, setting the goal of the creation of a “blockchain technology innovation high ground” by 2022, while the Beijing municipal government also included blockchain technology in its 2021 work report.

The Chinese financial sector was prominently represented in the fifth set of blockchain projects, with banks, insurers and brokerages all figuring amongst the registrants.

These fintech blockchain projects included:

  • The China Minsheng Bank Blockchain Trustworthy Evidence Deposit Services Platform (民生银行区块链可信存证服务平台);
  • ICBC Tech’s Bank Letter Blockchain Services Platform (银行函证区块链服务平台);
  • The Taikang Pension Annual Sum Blockchain (泰康养老年金区块链);
  • The Orient Securities Blockchain Platform (东方证券区块链平台);
  • The China Banking Association’s China Trade Finance Cross-bank Transaction Blockchain Platform (中国贸易金融跨行交易区块链平台);
  • The China Securities Association Investment Bank Electronic Draft Regulatory System (中国证券业协会投行业务电子底稿监管系统);
  • The National Internet Finance Association of China’s Digital Letter Platform based on the Blockchain (基于区块链的数字函证平台).

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