| Guangzhou | The “Measures for Promoting Blockchain Industry Development in Huangpu District, Guangzhou” is the earliest policy document on blockchain issued in Guangzhou, which was published in December 2017, about one year and four months after the earliest policy document on “blockchain” was issued in China. The policy mentions “ten blockchain articles”, including subsidies and incentives covering seven areas. Guangzhou selected Huangpu District and Development Zone as the pioneer of blockchain technology development, and examined the development of blockchain from a local perspective first. In the “Guangzhou Huangpu District, Guangzhou Development Zone on Accelerating Blockchain Industry and Leading Change Measures”, it is mentioned that Guangzhou Development Zone will set up a fund of 1 billion to encourage the development of blockchain industry, in which the subsidy for “coinless” public chain projects can reach up to 10 million yuan. In March 2020, Guangzhou was approved by the Ministry of Industry and Information Technology, becoming the first city in China to be approved to create a demonstration zone for blockchain development. On the way to promote the development of blockchain industry, Guangzhou has taken another major step in the development of digital economy. |
| Beijing | Beijing is the earliest city among the five cities to release policies related to “blockchain”, and the earliest policy related to blockchain is the “2016 Annual Performance Task of Beijing Municipal Bureau of Financial Work” released in August 16. The policy hopes to use the Zhongguancun Blockchain Alliance to promote further optimization of the development environment of Beijing’s financial industry. In order to accelerate the development and application of new blockchain technologies, the incentive and support measures given by Beijing will give enterprises a certain amount of financial support, which will be based on 30% of the amount of the signed procurement agreement or technology application contract, while the maximum amount of support for a single blockchain project may not exceed 5 million yuan. |
| Shenzhen | Shenzhen is the second city to release a policy related to “blockchain”. In November 2016, the Shenzhen Finance Office released the “Thirteenth Five-Year Plan for the Development of Shenzhen’s Financial Industry”, which was the first policy document in Shenzhen to include the word “blockchain”. In the “Shenzhen Financial Industry Development Measures”, Shenzhen mentioned that it will establish a special award for financial technology. For blockchain, digital currency and other areas of outstanding outstanding projects, the award can be awarded up to 6 million yuan to the research and development side. |
| Shanghai | The “Key Points of Financial Services in Baoshan District in 2017” issued by Baoshan District Government in 2017 is the earliest policy involving blockchain words proposed in Shanghai. The document mentions the need to effectively track and serve the construction of blockchain technology industry incubation bases. One of Shanghai’s measures to stimulate and support the development of new blockchain technology is to give a one-time incentive of up to 10 million yuan to eligible blockchain enterprises. |
| Hangzhou | Blockchain was first mentioned in the “Policy on Blockchain Industrial Park in Hangzhou, China” introduced in May 17. 2018 Hangzhou became the first city in China to involve blockchain words in the local government work report. It can be seen that Hangzhou strongly supports the completion of blockchain industrial park construction through the introduction of policies, and attracts high-level blockchain talents to settle in the industrial park by giving subsidies and rewards. In the aforementioned policy, the Hangzhou government promised subsidies of up to 3 million yuan for the purchase of houses. Meanwhile, in early April 2018, Hangzhou established the “Xiongan Global Blockchain 10 Billion Innovation Fund”, which is the first blockchain fund of 10 billion in scale in China, fully reflecting the importance Hangzhou attaches to “blockchain” technology. |