According to a joint government statement released on Sunday, China has chosen 15 pilot zones and
specified many areas of application to “carry out the innovative application of blockchain” technology.
According to a statement posted on the Cyberspace Administration’s official Wechat social media
account, the pilot zones include locations in China’s major cities of Beijing and Shanghai, as well as
Guangzhou and Chengdu in the southern Guangdong and Sichuan provinces.
Apart from the pilot zones, 164 entities were chosen to conduct blockchain pilot projects, including
hospitals, universities, and enterprises including SAIC-GM-Wuling Automobile Co., China National
Offshore Oil Corp., Beijing Gas Group Co., and Industrial and Commercial Bank of China Ltd.
Manufacturing, energy, government and tax services, law, education, health, trade and finance, and
cross-border financing are among the domains in which the businesses will work.
“Each area’s cyberspace administration and relevant industry regulator should… fully exploit
blockchain’s role in boosting data exchange, optimising business processes, lowering operating costs,
and improving collaboration efficiency in constructing a credible system,” the statement stated.
President Xi Jinping of China stated in October 2019 that the government should expedite the
development of blockchain technology as the foundation for innovation.
Despite its support for blockchain technology, China has outlawed bitcoin, which is based on it. In
September, regulators slammed the brakes on cryptocurrencies, imposing a blanket ban on all crypto
transactions and mining.
According to the cyberspace administration, the statement was published jointly by 16 governmental
entities, including the ministries of education, industry and information technology, the central bank,
the National Energy Administration, and the China Securities Regulatory Commission.