Bei­jing gov­ern­ment re­leased the “Bei­jing Mu­nic­i­pal Blockchain In­no­va­tion De­vel­op­ment Ac­tion Plan (2020 – 2022)

Bei­jing has re­leased a new in­dus­try de­vel­op­ment plan to drive the growth of the re­gional fin­tech sec­tor. On 30 June the Bei­jing gov­ern­ment re­leased the “Bei­jing Mu­nic­i­pal Blockchain In­no­va­tion De­vel­op­ment Ac­tion Plan (2020 – 2022)”.

The Forbidden City in Beijing

The Plan sets the goal of “the ini­tial es­tab­lish­ment of Bei­jing as an in­flu­en­tial com­mand­ing height for blockchain tech in­no­va­tion; a com­mand­ing height for ap­pli­ca­tion demon­stra­tions, a com­mand­ing height for in­dus­try de­vel­op­ment and a com­mand­ing height for in­no­v­a­tive tal­ent” by 2022.

Un­der the Plan Bei­jing will es­tab­lish a Blockchain In­dus­try In­vest­ment Fund as part of the Bei­jing Mu­nic­i­pal Tech In­no­va­tion Par­ent Fund, in or­der to ac­tively sup­port pro­jects via both states in­vest­ment and so­cial cap­i­tal.

Bei­jing hopes to es­tab­lish spe­cial mech­a­nisms for con­nect­ing blockchain en­ter­prises to cap­i­tal mar­kets, and en­cour­age the list­ing of stronger com­pa­nies.

The Plan also calls for the for­ma­tion of a “Bei­jing Plan” for us­ing blockchain tech­nol­ogy to spur eco­nomic and so­cial de­vel­op­ment, and the cre­ation of a “new sys­tem” for the in­te­gra­tion of blockchain tech in­no­va­tions with in­dus­try de­vel­op­ment.

As AZCoin News recently reported, the Yun­nan province city of Kun­ming has de­vel­oped Chi­na’s first blockchain-dri­ven bid­ding plat­form for pub­lic re­sources. The “Kun­y­il­ian” pub­lic re­source trans­ac­tion blockchain plat­form of­fi­cially com­menced op­er­a­tion in the city of Kun­ming on 23 June.

The launch of Kun­y­il­ian ar­rives just as China steps up in­vest­ment in “New In­fra­struc­ture,” which in­cludes blockchain tech­nol­ogy, in re­sponse to the eco­nomic im­pacts of the COVID-19 pan­demic.

On 17 April a meet­ing con­vened by the Chi­nese Polit­buro called for “strength­en­ing in­vest­ment in tra­di­tional and new in­fra­struc­ture,” with lead­ing do­mes­tic an­a­lysts ex­pect­ing in­fra­struc­ture in­vest­ment in China to reach be­tween 22 – 26 tril­lion yuan (US $3,1 tril­lion) in 2020.

Read more:

China’s Wuhan Kingold Jewelry Used At Least 83 Tonnes Of Counterfeit Gold As Collateral For Loans

China’s National Blockchain Services Network (BSN) Integrates Chainlink Oracles

Follow us on Telegram

Follow us on Twitter

Follow us on Facebook