Good Returns

Fish farmers unload scallops from a ship in Ruhe Town, Changli County in north China’s Hebei Province, on October 9. To advance the sustainable development of scallop cultivation, the county has taken a series of measures such as building sea ranches and restricting fishing.

Based in Hainan Resort

Software Community (RSC), the zone includes a blockchain research institute jointly established by the RSC and the University College Oxford Blockchain Research Center at Oxford University in the United Kingdom.

A blockchain institutional innovation center will also be launched by the RSC in collaboration with Renmin University of China.

“The pilot zone will commit to attracting blockchain professionals from around the world and exploring the application of blockchain in areas such as cross-border trade, inclusive finance and credit rating,” said Wang Jing, head of Hainan’s Department of Industry and Information Technology.

She said the pilot zone would deepen cooperation with top research institutions and key players in the blockchain industry worldwide.

A blockchain is a digital ledger system that uses sophisticated cryptographic techniques to create a permanent, unalterable and transparent record of exchanges to trace transactions.

The technology now has a wide range of applications in China, including finance, credit reporting, smart manufacturing and supplychain management, according to the Ministry of Industry and Information Technology.