China Local Governments To Reward Up To 6 Million CNY To Host Blockchain Startups
Since blockchain’s written into China’s “13th Five-Year” National Information Plan in December 2016, local governments in China one after another issued relevant supporting policies and documents for blockchain development, and joined the battle for outstanding enterprises and talents in the blockchain industry.
“Suzhou’s 9 Articles on Blockchain”: Great Incentives, Open Scenario
In the past week, Suzhou and Guangzhou Huangpu respectively issued “Suzhou’s 9 Articles on Blockchain” and “10 Articles on Blockchain”. On December 23, Administrative Committee of Suzhou High-Speed Railway New City officially issued the “Support Policies on the Development of Blockchain Industry”, which has 9 articles including support for business settling, business operating, talent introducing and platform building. Companies or institutions that undertake IPOs at home, overseas and listed on the new three board, would respectively be awarded 6 million, 2 million and 2 million CNY; key labs engaging in blockchain technology recognized by the State, province or municipality, would be awarded 5 million, 3 million and 1 million CNY respectively;
In the Article of business settling support, the newly founded blockchain enterprises or institutions would be provided venues no more than 1000 square meters, and “two-year exemption and three-year reduction” policy for rent. The rent subsidies for each enterprise per year shall be no more than 600,000 CNY.
In terms of support for business operating, blockchain enterprises (institutions) would be given lump-sum award of 100,000, 200,000, 1,000,000 and 2,000,000 CNY respectively depending on its annual incomes.
In terms of activities support, blockchain enterprises that hold high-level conferences as international or national blockchain seminars and forums should be subsidized with the maximum of one million CNY. For scenario application, 50 blockchain applications are supported each year, and each demonstration project can receive award up to 3 million CNY; in finance, to set up Blockchain Special Guiding Funds of High-speed Railway New City with a total scale of 1 billion.
In addition to attracting enterprises and talents with large sum subsidies, Suzhou High-speed Railway New City made joint effort with Tongji University to build the Tongji Financial Technology Research Institute of Suzhou. Through opening up application scenarios together with other measures, it intends to create a “Blockchain Valley”, home to blockchain enterprises.
“10 Articles on Blockchain” of Guangzhou Huangpu: Incentives on Breeding, Growth, Platform and Application
On the day right before Suzhou released its ” 9 Articles on Blockchain “, Guangzhou Huangpu also released the Measures for Promoting the Development of Blockchain Industry in Guangzhou Development Zone of Huangpu District in Guangzhou, short for “10 Articles on Blockchain”. It provides key policy support for blockchain enterprises or institutions ranging from sectors of application scope, breeding, growth, platform, application, technology, finance, activities and other aspects.
Be more specific, the coverage and incentives of Guangzhou Huangpu’s 10 Articles and Suzhou’s 9 Articles are similar. Incentives start with the registry of blockchain enterprises settling in Huangpu District of Guangzhou Development Zone, and help with every crucial sector as talent introducing, revenue growth and successful application of blockchain technology, as well as office site choosing and bank loans application, etc. It is estimated that financial input will increase by 200 million CNY annually.
In the meanwhile, enterprises or research institutes building blockchain technology labs, engineering (technology) research center, enterprise technology center, R & D institutions along with all other innovative platforms shall be awarded incentives depending on its level, as well as enterprises formulating blockchain-industry-related standards.
On the day when “10 Articles on Blockchain ” was released, the first Blockchain White Paper of Guangzhou was officially released. According to the White Paper, as of the end of 2017, there will be more than 100 members joined in Blockchain Industry Association of Guangzhou, of which over 38 are newly established blockchain enterprises, with more than 10 blockchain application scenarios being launched.
In July this year, Blockchain Industry Association of Guangzhou was officially established in the district under the guidance and promotion of the Huangpu District Government and the Administrative Committee of Guangzhou Development Zone. This is the first officially registered blockchain association in Guangzhou and also the first in Guangdong Province. In October this year, the first 2 blockchain industrial innovation bases and 10 blockchain major programs of Huangpu District and Guangzhou Development Zone jointly signed the contract.
According to previous statistics from 8btc.com news, various local governments have issued blockchain-related supporting documents this year. However, apart from the detail mentioned in the Notice of Shenzhen People’s Government on Printing and Distributing Certain Measures to Support the Development of the Financial Industry issued in September this year that “Set up the special award of Fintech, focusing on outstanding projects in areas such as blockchain, digital currency and financial big data application with an annual incentive limit of no more than 6 million CNY”, but the majority of provinces and municipalities have not yet had detailed rules and regulations on supporting blockchain development.
Scrambling for and riding the upsurge of blockchain development, Huangpu and Suzhou have been ready, and laid reference for other regional blockchain supporting rules. We believe that supporting documents from other local governments will soon be issued one after another in the near future.
For more details on Government Documents Supporting Blockchain Development in China, 2017, please refer to: http://news.8btc.com/summary-of-government-documents-supporting-blockchain-development-in-china2017.