Boosting Blockchain

Beijing has unveiled an action plan to boost blockchain deployment, integrating the transaction data technology into the city’s operations.

Under the Beijing Blockchain Innovation Development Action Plan 2020-22, the city is expected to become an influential new highland for blockchain innovation, application demonstration, industrial development and talent by 2022.

The plan outlines four key strategies and 20 specific tasks, including building platforms for theory and technology research, building and implementing multi-field application scenarios, and building a leading team of blockchain talent.

In finance and taxation, the city will focus on real estate registration and unified electronic bills.

Beijing is also planning to foster a business climate favorable to blockchain innovation and enterprises with great growth potential. It will set up a special fund to allocate government funding to blockchain projects.

Last October, China launched a nationwide blockchain-based service network to improve the layout of the sector and support the development of smart cities and the digital economy. months of the year as work and production resumption pressed ahead, data from the Ministry of Industry and Information Technology (MIIT) shows.

According to the MIIT, total profits of firms with annual revenue of more than 20 million yuan ($2.83 million) surged 34.7 percent year on year, while the operating revenues of the firms rose 1.3 percent, rebounding from the 1.6-percent decline in the first four months.

Value-added output of major electronic information manufacturers registered 3.7-percent yearly growth in the January-may period, while fixed-asset investment in the industry grew 6.9 percent year on year, 0.7 percentage point higher than the same period of last year.

In breakdown, profits of the communications equipment manufacturing sub-sector soared 70.3 percent from a year earlier, while that of the computer manufacturing sub-sector jumped 41.6 percent.

In May alone, the output of laptops and tablets jumped 28.6 percent and 25.4 percent year on year, respectively, and that of smartphones and integrated circuits rose 8.4 percent and 3.4 percent, respectively.