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Blockchain Ranks 3rd in the 2018 Hangzhou NPC & CPPCC Sessions

As reported by 8btc News, Xu Liyi, the mayor of Hangzhou Mayor, proposed that Hangzhou would speed up the development of the future blockchain industry in the 2018 Hangzhou NPC & CPPCC Sessions on 4th of February.微信图片_20180209170934

Mayor Xu pointed out that Hangzhou would “accelerate fostering of the artificial intelligence, virtual reality, blockchain, quantum technology, commercial aerospace and other future industries, in order to focusing on innovation-driven business and realize structural optimization to promote high quality economic development with high quality ” in a government work report.

The report shows that to the future of Hangzhou, the blockchain ranks third and second only to artificial intelligence and virtual reality technologies .

Hangzhou municipal government has a lot of affection for blockchain. They co-sponsored the Global Blockchain Financial Summit in April 2017 and that was also the first blockchain summit hosted by a Chinese municipal government in history. In the summit, the vice mayor Chen Xinhua stated that: “Hangzhou ranks 10th among the cities with a total GDP over 1 trillion yuan in China and we try to provide a suitable developing environment for the blockchain industry.”

In this summit, Hangzhou also launched the first blockchain industrial park in China. Settled enterprises and companies could enjoy the rent subsidies, tax incentives, scientific and technological achievements awards and talent support policies. A government officer stated that, The government can not miss out the opportunity for blockchain development and the next leading blockchain enterprise, like ‘Alibaba’ of this industry, might come into being in Zhejiang Province.

At present, Hangzhou has gathered a large number of outstanding blockchain enterprises and projects. Hangzhou has been recognized as one of the ‘Top 4 Cities of Blockchain Innovation in China’ co-located with Beijing, Shanghai and Shenzhen. There are more than 30 blockchain-related companies settled in Hangzhou, every links of blockchain has been involved in and an overall integrated ecosystem has been formed.

Recently, the NPC & CPPCC Sessions have been held intensively in China and Hangzhou is the first one to write ‘blockchain’ down in a government work report. People believe that Hangzhou regards highly on blockchain industry shows this industry looks to further increase on the one hand. On the other hand, it also indicates that more and more local governments will be involved in the blockchain “industrial war” in 2018.

Promotions from the government would facilitate the accumulation of resources such as policies, funds and talents to the blockchain industry, and it is a good news for the industrial development.


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