China Unveils Inaugural Blockchain City Rankings

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Tim Alper

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Tim Alper

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Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

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June 26, 2023 06:55 EDT

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Beijing is officially China’s top blockchain city, per official rankings, but second city Shanghai placed third behind Shenzhen, the nation’s fastest-growing blockchain hub.

These were the findings of a special session at the China International Fair for Trade in Services, the first large-scale international economic and trade convention to be held in China since the coronavirus pandemic struck late last year.

The conference, also known as the Beijing Fair, hosted a “Global Fintech Blockchain Summit,” where 83 Chinese cities were given a ranking score out of 100 on their blockchain progress.

The organization dubbed the tables the “2020 Chinese Blockchain Innovation Rankings.”

According to the state-run media outlet Finance.China.com, the rankings were based on “multiple sources” and “objective data” – which it sadly did not expand upon.

The organizers ranked the cities on their blockchain R&D infrastructure, their level of blockchain industry development, the public popularity of local blockchain-powered offerings and city-level policy.

Propping up the top 50 was Jiujiang, in Jiangxi Province, which scored under 36 out of 100.

But further up the list, Beijing scored a near-perfect 99.82 at the top of the pile, with Shenzhen, the nation’s de facto center of gravity for all things blockchain-related garnered a score of 91.2. The city is home of over 5,000 blockchain-related firms, per recently released figures.

Shanghai, one of East Asia’s biggest business capitals, lagged behind with just under 88%.

Rounding out the top five were Hangzhou with an 86.5% score and Guangzhou with just under 77%.

The report’s authors noted that Beijing and Shanghai benefitted from massive natural advantages in R&D, industrial development and public awareness, a fact that allowed them to score so high.

The capital also topped the individual rankings in all but one category – local policy – where it was beaten to the top spot by Chongqing, which scored a perfect 100/100 in this field.
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