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China earmarks 15 zones, 164 entities for blockchain projects

China earmarks 15 zones, 164 entities for blockchain projects
Photo Credit: Pixabay
31 Jan, 2022
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The Cyberspace Administration of China (CAC), the central internet regulator and control agency, has announced the list of 15 pilot zones and 164 enterprises blockchain projects to implement the technology in companies and government organisations. 

The pilot zones include areas in China’s key metropolitan cities such as Beijing and Shanghai, Guangzhou, Chengdu, the entities will be conducting blockchain projects in fields such as manufacturing, energy, government and tax services, law, education, health, trade and finance, risk control management, equity market and cross border finance.

The administration in a statement said that the provincial network information offices and industry supervisory departments should attach great importance to the national blockchain innovation application pilot work and strengthen the organisation and coordination, policy and financial support, work guidance, and implementation of the pilot work in the region.

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“Each pilot unit (region) shall implement the main responsibility of the pilot work, establish an efficient and powerful pilot organization and leadership mechanism, and the management and assessment mechanism required to promote the pilot work,” it said.

Media reports suggest that companies such as SAIC-GM-Wuling Automobile, China National Offshore Oil Corporation, Beijing Gas Group and Industrial and Commercial Bank of China were selected to execute these blockchain pilot projects.

CAC will also be coordinating with the national industry regulatory authorities to strengthen the daily management and follow-up guidance of the pilot, establish an evaluation system, follow-up evaluation and dynamic adjustment mechanism.

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These apart the administration will organise periodic and final evaluation work in a timely manner, and guide the establishment of blockchain innovation.