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Hangzhou: First Chinese City to Add “Blockchain” to the Government Report

“Hangzhou, as the tenth Chinese city with a total GDP exceeding RMB 1 trillion in China, will surely provide the blockchain industry with a nutrient-rich and innovative soil for development.”

Xu Liyi, Mayor of Hangzhou, said at the two sessions held in Hangzhou that Hangzhou would speed up the development of blockchain, one of the future industries.

Xu pointed out in the government report on the day of the sessions that Hangzhou would “accelerate the development of such future industries as artificial intelligence, virtual reality, blockchain, quantum technology and commercial aerospace, focusing on innovation drive and structural optimization and facilitating the goal of high-quality economic development”.

In recent years, the Hangzhou government has been paying special attention to the blockchain technology. As early as in last April, the Hangzhou government co-hosted the 2017 Global Blockchain Finance (Hangzhou) Summit, the first blockchain summit held by the domestic government.

At present, Hangzhou has pooled a host of great blockchain companies together. In terms of seizing the highland of blockchain development, Hangzhou has been in the first camp with Beijing, Shanghai and Shenzhen, recognized as one of “China’s top four cities for blockchain innovation”.

Chen Xinhua, vice mayor of Hangzhou, said at the meeting, “As the tenth Chinese city with a total GDP exceeding RMB 1 trillion in China, Hangzhou will surely provide the blockchain industry with a nutrient-rich and innovative soil for development.”

According to some industry insiders, great importance has been attached to the development of the blockchain industry, which indicates that blockchain has a prosperous future and that more local governments will join in the “industry war” in 2018.

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