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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