Guangzhou to set up China's first blockchain development pilot zone

Guangzhou, capital of Guangdong province, has been approved by the Ministry of Industry and Information Technology to construct the first blockchain development pilot demonstration zone in the country, accelerating the city's development of its blockchain technology and industry in the years ahead.

As a major software industrial hub in the mainland, the southern metropolis has also introduced specific measures for the city's development of blockchain technology and industry 2020-22, according to a statement released by the city government on Friday.

"Guangzhou will continue to spare no effort to promote blockchain innovation and development and take blockchain as an important breakthrough for independent innovation of core technology, and strive to build the city into a domestic blockchain industry cluster in innovation and application industries.

Major companies in the city will be encouraged and guided to develop and integrate blockchain technology with finance, information, intelligent manufacturing, supply chain, bio-medicine, scientific research, logistics, intellectual property, industrial Internet and related industries in the coming years, to further upgrade their supply chain technologies and digital transformation, said the statement.

"Guangzhou has a dynamic scientific research atmosphere, rich human resources and strong economic development momentum, and therefore, the city has its great advantages to become a new and major blockchain technological and industrial center in the Guangdong-Hong Kong-Macao Greater Bay Area," the statement said.

Meanwhile, Guangzhou has continuously strengthened the deep integration of the blockchain technology and various fields of the traditional economy, and built a new engine for high-quality economic development in the city, the statement said.

To this end, Guangzhou has expanded its cooperation with major internet and technology companies, including Alibaba, Tencent, JD and Baidu, in developing its blockchain technology and industry, the statement added.

According to official statistics, Guangzhou has, so far, registered more than 400 blockchain companies mainly involved in government administration, finance, bio-medicine, people's livelihood and manufacturing industries.