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

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