Greater Bay Emerges as China’s Leading Region for Blockchain Innovation

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The Greater Bay Area of Guangdong, Hong Kong and Macau has emerged as China’s leading region for innovations in relation to the use of blockchain technology.

As of 2021 Greater Bay was host to 106 policies in relation to the use of blockchain technology, according to the “Report on Blockchain Assisting Greater Bay Area Integrated Development (2022)” (数“链”大湾区——区块链助力粤港澳大湾区一体化发展报告(2022)) released by the China (Shenzhen) Development Institute on 19 July.

In 2021 Greater Bay saw the filing of 3282 patents for blockchain-related technology, accounting for 31% of the national total that year.

As of the end of 2021 Greater Bay was also home to 9 of the top enterprises in China for blockchain technology, whose blockchain-related patent applications accounted for 53% of China’s national total.

“At present the fruits of Greater Bay blockchain applications are highly rich, and the number of blockchain registered projects is amongst the forefront in China,” said Fan Gang (樊纲), head of the Shenzhen chapter of the China Development Institute.

“A cohort of leading blockchain enterprises are currently emerging, who will not only effectively resolve the current blockages in terms of people, goods and funds in Greater Bay due to differences in systems, but will also assist the cross-border and cross-regional usage of data as a factor of production.”