China: Ningbo City Plans to Launch 100 Blockchain En­ter­prises in 2022

The coastal city of Ningbo in Zhe­jiang province, China, has un­veiled am­bi­tious plans for the de­vel­op­ment of its lo­cal blockchain sec­tor.

According to local outlet Chinabankingnews on June 1,  Ningbo re­leased the “Ningbo Mu­nic­i­pal Three-year Plan for the Ac­cel­er­a­tion of De­vel­op­ment and In­no­v­a­tive Ap­pli­ca­tions in the Blockchain Sec­tor (2020 – 2022)”.

The Plan sets the goal of trans­form­ing Ningbo into a “blockchain de­vel­op­ment high ground” for both the Yangtze River Delta re­gion and China as a whole within the next sev­eral years.

By 2022 Ningbo hopes to es­tab­lish one to two blockchain in­dus­try parks, as well as cul­ti­vate or in­tro­duce over 100 blockchain en­ter­prises.

The Plan also calls for es­tab­lish­ing at least five blockchain lab­o­ra­to­ries and one blockchain acad­emy, along­side a blockchain re­search and de­vel­op­ment cen­tre.

As AZCoin News reported, China has launched a new infrastructure initiative with total investment of 10 trillion yuan ($1.4 trillion) over six years to 2025, expecting to drive technology such as 5G wireless networks, big data, blockchain and AI, with experts saying China is capable of overtaking the US in the tech sector.

Ningbo, also called “Yong” for short, lies in the middle of the coastal line of the Chinese Mainland and in the South of the Yangtze River Delta, the city is the second largest city in Zhejiang.

Ningbo is really a famous historic and cultural city in China. It is the birthplace of the first light of the 7,000-year-old Chinese civilization and Hemudu Neolithic Culture, and where China’s existing oldest private library is located. Also, it is the key place of the East Zhejiang School in Ming Dynasty and Qing Dynasty in Chinese history.

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